Amrita Sen, chief oil analyst at Energy Aspects, discusses the oil market outlook as OPEC and non-OPEC partners convene to discuss the next phase of production policy.
Spare oil capacity will be OPEC’s ‘biggest challenge’ at highly anticipated meeting, analyst says
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US will not grow production with biden plan, plus shell, BP is decreasing oil production at 5 percent a year, Total is going renewable mostly in the coming years. And most importantly Saudi wants oil prices to stay at 80 dollars per barrel, so does kuwait, Iraq and Oman other producers. Iran is having deep problems with US after syrian attack, sanction is not likely to go off, impossible to see their production back any time soon
Why do they want 80$ a barrel?
@Brandon Oswalt budget balance,
Load up On USO calls