OPEC+ believes that the market will consume extra oil supply that easing output cuts will deliver, the group said in its communique on Wednesday
MOSCOW (Pakistan Point News / Sputnik - 15th July, 2020) OPEC+ believes that the market will consume extra oil supply that easing output cuts will deliver, the group said in its communique on Wednesday.
"It [the Joint Ministerial Monitoring Committee] noted that, moving to the next phase of the agreement, the extra supply resulting from the scheduled easing of the production adjustment will be consumed as demand recovers," the communique read.
