OPEC+ is expected to once again postpone it production hike

OPEC+ is expected to postpone once again its 120,000 barrel-a-day hike

• if so it’ll be the fourth time the plan has been delayed
• currently OPEC+ aims to restore 2.2 mn barrels a day total, in monthly increments, starting from April

ANZ analysts:

• OPEC’s ability to phase out production cuts without disrupting the oil market is getting increasingly difficult
• Given the economic and geopolitical uncertainties and its need to support oil prices, we expect OPEC will delay

This article was written by Eamonn Sheridan at www.forexlive.com.