Motilal Oswal: OPEC+ Steps Up Patrolling As Demand Continues To Defy
Petroleum Pipes sit on top of the well deck of a gas condensate platform in U.K. (Photographer: Simon Dawson/Bloomberg)

Motilal Oswal: OPEC+ Steps Up Patrolling As Demand Continues To Defy

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Motilal Oswal Report

At the last meeting of this historic year, OPEC-plus decided to increase monitoring to balance the struggling global oil market.

The group has decided on additional voluntary cuts of a mere 0.5 million barrels of oil per day to 7.2 mnbopd, starting Janurary, 21, against the scheduled cut of 2 mnbopd to 5.7 mnbopd.

This is the second time when OPEC+ has agreed on lower cuts than schedule as further extensions and impositions of lockdowns in various countries has aggravated the demand-supply mismatch.

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Motilal Oswal Oil&Gas Sector Update.pdf

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