IEA chief Fatih Birol is speaking to Bloomberg
- It may be advisable for OPEC+ to cut as soon as possible
That’s certainly a thought but given how reluctant the Saudis and Russians were to overstep their boundaries with the latest deal, I don’t think we’ll get one any time soon.
And even if we do, it is likely to be a token one that will fall way short of addressing the supply glut in the market right now.
WTI is down by just over 2% on the day now, around $11.30.