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OILX - Weekly Energy Recap: It Is Too Early To Prejudge The Largest Oil Output Cut In History
UBS AG London Branch ZC SP ETRACS REDEEM 22/02/2046 USD 25 - Ser B
This sustainable output cut strategy will last until April 2022, starting with a reduction of 10 million bpd during May and June.
OPEC+ has made the largest oil output cut in history.
The move points to the alliance seeking to balance the oil market over the medium-term rather than working on a short-lived recovery.
The aim of Saudi Arabia remains to ensure energy security through sustainable pricing and sufficient supplies at a level that stimulates upstream projects.
However, facing such unprecedented headwinds, it is still too early to know if the agreed 10 million barrel