OPEC Said To Consider Additional 1 Million Bpd Output Cut

Two days ago, JPMorgan’s head of energy strategy Christyan Malek warned that amid the recent plunge in oil prices, driven as much by shorting CTAs (who today are in full-blown short squeeze panic mode) as the Biden admin, the oil market was underestimating the chances of deeper supply cuts during this month's Nov 26 OPEC+ meeting. “The market’s probably assuming very little chance of that happening, I’d say it’s much higher than that – not as a base case but as a scenario” Malek told Bloomberg in an interview,…