A horse grazes near oil pumpjacks outside the Russian city of Surgut on March 10, 2020.
OPEC+ recently approved the largest-ever coordinated production cut to offset declining global demand due to the COVID-19 pandemic. While the agreement is unlikely to thwart further price declines in the coming months, the current alignment of interests among the world’s top oil producers means the deal will probably remain in place through the end of the year. But as the market begins to recover, adherence into 2021 will start to wane. ...
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