OPEC Needs to Cut More to Protect Pricing, Says Sanford C. Bernstein’s Beveridge

The video discusses the divergent demand for commodities in China, highlighting strong natural gas demand and a slowdown in oil demand. It explains the increase in Chinese oil imports due to government policy and independent refineries. The global oil market is analyzed, showing a mismatch between demand growth and non-OPEC supply, necessitating OPEC production cuts to maintain prices. The future outlook suggests continued OPEC cuts to manage prices, with a focus on slowing shale production.

Why does OPEC need to continue cutting production despite increasing imports from China?

What are the expected trends in oil demand and non-OPEC supply in the coming years?