After OPEC’s Oil Supply Cuts, What Now?

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OPEC+ will complete the unwinding of its largest production cut next month after agreeing this weekend to boost output by 547,000 barrels per day (bpd) in September in a move that was widely expected by the market and oil industry analysts. What’s next for the OPEC+ oil production policy and the last remaining layer of production cuts of 1.66 million bpd is anyone’s guess. The group of OPEC and non-OPEC producers, led by Saudi Arabia and Russia, left the door wide open to any further production adjustment – in either direction…