The Resurrection of OPEC+: Real Détente or a fudge?

Summary:

What has been agreed? Moscow and Riyadh have resolved the dispute that threatened to kill OPEC+. Both sides reached a compromise regarding base production and future cuts that allowed the OPEC+ Group to agree an aggregate cut of 9.7 million barrels, starting May 1st. These cuts will be scaled back with an agreed timetable and will end in December 2022. But the members have agreed to a review on June 10th.

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