Opec+ is in a tight spot

OPEC does not even seem to factor in the prospect of a very long-lasting, major recession in much of the world which will inevitably reduce demand for their products. The only market that has reasonable growth prospects has its own oil and gas and that’s North America. Everybody still clings to the hope that China might come back when it must be clear to even a one-eyed chicken that China is done and won’t come back in a significant way. China’s success is being the top exporter for anything but this is a fading mirage. The world turns away from China and China away from the world. History repeats. OPEC needs to look at other markets, help them get back onto their feet, or see their prospects shrivel. 

Linkedin Thread