Is a supercycle coming in oil markets?

Vijay Bhambwani • April 07, 2023 / 23:42 IST

OPEC+’s cut of 2 mbpd from November 2022 means oil output will fall by approximately 1.45 percent from May 2023 after the latest output cut comes in force. This insignificant quantum is unlikely to trigger a big raging bull market, forget about a supercycle

Whenever oil prices have risen too much too fast, alternate sources of energy become commercially viable. The world is spoilt for choice now.

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