1007 GMT - OPEC+'s effective production increase is likely to be lower than the expected 138,000 barrels a day due to some members' compensation cuts for past overproduction, UBS' Giovanni Staunovo says. According to the strategist, there's no indication that the cartel and its allies are fighting for market share against non-OPEC+ producers. Instead, "we believe the group is focused on supply management to keep the oil market in balance," he says. U.S. President Trump's decision to revoke Chevron's license in Venezuela might lead to a modest decline in Venezuelan output over the coming quarters, according to UBS. Meanwhile, traders are also closely watching Iranian exports after the latest round of U.S. sanctions. (giulia.petroni@wsj.com)
(END) Dow Jones Newswires
March 04, 2025 05:07 ET (10:07 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。