Opec-Plus Not Panicking Over Price Drop

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  • Opec-plus is not racing to cut production following the drop in oil prices linked to the collapse of several banks in the US and Europe.
  • The producer alliance is taking a wait-and-see approach, judging that market fundamentals are not behind the price drop.
  • Russia's extension of its 500,000 b/d voluntary cuts until June is helping Opec-plus policymakers.

The Issue

Opec/Opec-Plus, Oil Prices, Opec-Plus Supply , Oil Demand
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