OPEC update - Seems to jive with Saudi viewYes just like Apple adjusts supply to ensure their $1500 phones....OPEC should and can do the same regardless of a recession. They did it during COVID. If it maintains a recession for 5 years so be it....at least oil gets $85 and people stop living beyond their means funded by oil companies.
OPEC should set a minimum floor of $85. Anything less and they understand we have a long-term problem with capex.
"OPEC+ PANEL ENDORSES SAUDI VIEW OF DISCONNECT IN OIL MARKETS."