What is the expected output cut that OPEC is considering, and what is the reality of meeting quotas?
Oil Extends Rally in NY as OPEC+ Mulls Largest Output Cut Since 2020
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The video discusses OPEC's concerns about weakening demand due to inflation and high fuel prices, leading to potential supply cuts. Despite talks of a 2 million barrel per day cut, experts believe the actual reduction will be smaller, as many producers are not meeting current quotas. The impact of these cuts may not be as significant as anticipated.
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Discuss the potential impact of the supply cut on the market as mentioned in the text.
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