Strategy Note /
Global

OPEC+ reset

  • Higher base for output for UAE and others, 400k bpd increase per month from August, monthly meetings maintained

  • Short-term, less bullish for oil price than frozen output restraint if no new deal had been reached

  • Medium-term, sustained cooperation positive for oil price. In large EM, Russia and Saudi are similarly valued vs history

OPEC+ reset
Hasnain Malik
Hasnain Malik

Strategy & Head of Equity Research

Tellimer Research
19 July 2021
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