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Opec-Plus: Reasons to Be Cheerful
Strong demand and buoyant prices are prompting key Opec-plus producers, led by Russia, to start discussions over a potential further opening of the supply taps when they meet next week. • The danger of an imminent US-Iran nuclear deal sparking a fast-track return of Iranian crude, which could derail Opec- plus' carefully crafted market management, remains a very real prospect. • Yet, the signs are that producers see this as less of a threat than just a few weeks ago. Regular monthly meetings mean Opec-plus would be able to respond to any supply surge in a timely manner. Demand is the main driver behind Opec-plus' ... (full story)