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China's crisis gives OPEC an excuse to cut oil production 

For the oil market, the key numbers to watch out for are the production cut by the oil cartel and the reduction in consumption in China 

November 30, 2022 / 01:44 PM IST
China's crisis gives OPEC an excuse to cut oil production 

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Highlights  The crude oil market is in the high volatility zone as buyers and sellers walk on a slippery path  A resurgence of Covid in China and shutdowns have threatened the demand side of the equation  Cap on Russian oil and a strong dollar is affecting supply-side dynamics  The oil cartel will use the China turmoil to cut production and keep prices higher  The next few weeks will decide the direction for the oil market in the medium term  Brent crude oil futures touched an...

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