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Oil

Who’s the boss? OPEC+ tries to reassert control of oil market

Agriculture | Energy | Coal | Electric Power | Natural Gas | Oil | Metals | Petrochemicals | Shipping

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Listen: Who’s the boss? OPEC+ tries to reassert control of oil market

After a collapse in oil demand due to both the COVID-19 pandemic and the accord between Saudi Arabia and Russia earlier this year, OPEC+ is now back in the driving seat. It has extended its unprecedented production cut deal through July, tried to crack down on those that lack the will power to deliver their share and brought in frequent market monitoring in a bid to react quickly to rapidly changing conditions.

S&P Global Platts seasoned OPEC watchers Paul Hickin, Herman Wang and Rosemary Griffin examine whether this is a new and improved alliance or whether the same old cracks may start to appear.