RE:OPEC Fails to Fullfil Quotas Since SeptemberThe most important statement in the article is Russia losses 3 million. If this happens then most say WTI will spike to $185
As for the IEA, the energy agency sees up to 3mb/d losses from July, supporting oil prices In their May Oil Market Report, the IEA predicted that Russian losses could stretch to more than 2mb/d in June and deepen to close to 3mb/d from July onwards if ‘existing sanctions deter further buying or should the embargo on Russian oil expand’.