1400 ET - U.S. sanctions against Iranian and Venezuelan crude oil should compensate OPEC+'s decision to speed up the unwinding of output cuts in May, Societe Generale's head of commodities research Benjamin Hoff says in a note. "The more muscular implementation of U.S. sanction policy vis-à-vis Iran and also Venezuela is removing precisely the heavier, sourer grades from the market, that the world is currently short," he says. "This creates space for OPEC barrels to return." The OPEC+ decision added fuel to this week's tariff-induced selloff in oil. Hoff expects OPEC+ to manage further increases tactically. "Depending on price impact it is entirely possible that we will see a delay of the return of further barrels in June." (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
April 04, 2025 14:00 ET (18:00 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。