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What the OPEC+ deal means for market volatility, US crude production
Manage episode 281005003 series 2845965
Earlier this year the oil market suffered a historic price collapse as pandemic-blunted demand left the world awash in crude.
Against this background, the OPEC+ group in April agreed to is deepest-ever production cuts. The agreement was largely successful in fostering a recovery in oil prices throughout the summer and fall, but oil demand outlooks have again come under pressure. The group reached a compromise agreement December 3 to scale back production quotas and to meet monthly to fine-tune output as conditions warrant.
Today we talk with Ed Moya, senior market analyst at OANDA, to discuss what the OPEC+ deal means for market volatility, its impact on rebounding US crude production, and what effect the incoming Biden administration could have on the group's thinking next year.
477 ตอน
Manage episode 281005003 series 2845965
Earlier this year the oil market suffered a historic price collapse as pandemic-blunted demand left the world awash in crude.
Against this background, the OPEC+ group in April agreed to is deepest-ever production cuts. The agreement was largely successful in fostering a recovery in oil prices throughout the summer and fall, but oil demand outlooks have again come under pressure. The group reached a compromise agreement December 3 to scale back production quotas and to meet monthly to fine-tune output as conditions warrant.
Today we talk with Ed Moya, senior market analyst at OANDA, to discuss what the OPEC+ deal means for market volatility, its impact on rebounding US crude production, and what effect the incoming Biden administration could have on the group's thinking next year.
477 ตอน
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