PODCAST: OPEC+ faces pressure as crude oil prices climb

Sophie Udubasceanu


LONDON (ICIS)—The sharp recovery in oil demand has outpaced supply growth and resulted in a drawdown of global oil inventories, as coronavirus lockdown measures ease. The supply and demand balance is threatened, especially in a global energy crunch time. While unwinding its outstanding output cuts, OPEC+ has resisted pressure to further raise supply amid concerns of a potential growing oversupply of crude in 2022. Following the recent surge in energy prices, the ICIS global oil editor Sophie Udubasceanu talks to senior oil editor James Dennis about the latest developments in the market.


ICIS Premium news service

The subscription platform provides access to our full range of breaking news and analysis

Contact us now to find out more

Speak with ICIS

Now, more than ever, dynamic insights are key to navigating complex, volatile commodity markets. Access to expert insights on the latest industry developments and tracking market changes are vital in making sustainable business decisions.

Want to learn about how we can work together to bring you actionable insight and support your business decisions?

Need Help?

Need Help?