What Will OPEC Do Next?

COVID Market Update - If you want to know where OPEC’s production is heading, one needs only to look at their next month’s OSP, particularly to its largest market, Asia. This week, Saudi Arabia raised its June OSP to Asia, as well as to the US and Europe, in a clear sign that it is indeed cutting production and planning fewer exports. This isn’t difficult for Saudi Arabia to achieve, as their April production was at an all-time high as it tried to regain market share in an aggressive grab designed to get the upper hand in the…