“All data points point higher.”
– PIERRE ANDURAND
Overall, Andurand expects that at least 960,000 barrels per day, of the 1.2 million agreed, will be curtailed. He also expects that the six-month cutback could be extended for a further six months. Inventories need to be run down before the reduction shows through in figures, however. For example, he says: “Russia needs a few months before fulfilling its promise to shave production by 300,000 barrels.”
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