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OPEC+ adds 188,000 bpd to August quota as Gulf flows resume - Investing.com Nigeria
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OPEC+ adds 188,000 bpd to August quota as Gulf flows resume Investing.com Nigeria
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ING THINK
The Commodities Feed: Oil has its worst quarter since 2020
Per the full note [source], ING's commodities desk argues that oil's worst quarter since 2020 is driven by growing confidence in Persian Gulf supply recovery, despite recent US-Iran tensions. The desk notes that US crude production surged to a record 13.93m b/d in April, while exports hit a record 13.61m b/d, helping offset supply losses from the Persian Gulf. Our internal coverage does not track a specific currency pair for this commentary, so no firm consensus or cross-firm comparison is available.
ING Economics
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