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IEA chief says he hopes OPEC+ will address 'artificial' supply gap

From news.trust.org

The head of the International Energy Agency Fatih Birol said on Wednesday oil markets are suffering from an artificial supply gap, and that he hopes OPEC+ producer countries will do more to bring down prices at an upcoming meeting. "(A) factor I would like to underline that caused these high prices is the position of some of the major oil and gas suppliers," Birol said in an online presentation. "Some of the countries did not take, in our view, a helpful position in this context." "Some of the key strains in today's markets may be considered artificial tightness... because in oil markets today we see close to 6 ... (full story)

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  • Category: Fundamental Analysis