Muted crude, petchems response to OPEC+ cuts, impact could increase later in 2020

摘要

LONDON (ICIS)--Crude and petrochemicals markets response to a fresh OPEC+ production cut has been muted so far, with limited price movements since the deal was agreed late last week, but the measures could stand to have more impact later in the year. The cartel initially announced on 10 April that it would cut production by 10m/bbl from May, falling to 8m bbl/day from July to December, contingent on member state Mexico agreeing to the deal.