Analysts at Deutsche Bank forecast half-million barrels/day production increases in March, April and May
- at OPEC+ meetings those months
- then another 500k bbl/day hike in June
DB add that WTI getting to $65 may not be enough to ‘tremendously accelerate activity’ in the US. If there is a supply decline in the US it’ll encourage Russia in increasing output. (Russia being less concerned about losing market share to the US).
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