Analysts at Deutsche Bank stated that if OPEC+ decides to further postpone the expected increase in production, oil prices may react moderately. OPEC+ is expected to decide on Thursday to delay the increase in production for another three months, until the end of the first quarter. However, some uncertainties remain. The UAE has been allowed to gradually increase its daily production by 0.3 million barrels starting in January next year. Analysts have indicated that it is hard to imagine that the voluntary production cut agreement will continue to be fully implemented for three months while allowing one country to increase production. As traders await the outcome of the OPEC+ meeting on Thursday, Brent crude and WTI crude have risen 1.7% and 1.9% respectively during the day, reaching $73.05 per barrel and $69.39 per barrel.
德商银行:若欧佩克+推迟增产,油价反应可能呈中性
Deutsche Bank: If OPEC+ postpones the increase in production, the response of oil prices may be neutral.
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