OPEC+ may need to announce deeper oil production cuts this weekend to offset surprisingly strong supply growth from the US and elsewhere, hedge fund manager Pierre Andurand said.
Saudi Arabia probably wants to see higher prices, and will want fellow OPEC+ members to join its recent output cutbacks, the renowned oil trader and founder of Andurand Capital Management said in an interview with Bloomberg television on Wednesday. Riyadh may reverse its own curbs if its counterparts don’t contribute further to the supply reductions, he said.
