3 days ago • Posted by Martin Boujol
OPEC bets that crude oil demand will recover as fast as output returns
The restriction easing decided by the group is indeed a bet that the current soft demand will improve at the same pace as production returns. The group plans to add 2.1 million barrels per day of output by July. The question is, will demand really recover at a pace that will the market absorb all this extra oil? What was not enough might risk to become too much.