Brent crude and OPEC restructuring moved together in Post 079: OPEC's fourth output increase was approved alongside the oil price decline driven by deal optimism. Both are reacting to anticipated Hormuz reopening, not an accomplished one.
The crisis that has framed this series since CERAWeek moved to the edge of resolution in mid-June. After a brief military escalation, Trump canceled further strikes and said a peace deal was close. Oil fell to its lowest level since March. OPEC+ approved a fourth output increase. The shock is unwinding in real prices, not just in forecasts.
Brent crude and OPEC restructuring moved together in Post 079: OPEC's fourth output increase was approved alongside the oil price decline driven by deal optimism. Both are reacting to anticipated Hormuz reopening, not an accomplished one.
The crisis that has framed this series since CERAWeek moved to the edge of resolution in mid-June. After a brief military escalation, Trump canceled further strikes and said a peace deal was close. Oil fell to its lowest level since March. OPEC+ approved a fourth output increase. The shock is unwinding in real prices, not just in forecasts.