is still depending on exports so if that is facing a recession, there is still that impact on china. so, it is demand driven. but having said that, i don t think, for the argus consulting team, we never saw $100. we do see that going forward. in the second half of this year. assuming 0pec plus, and that includes russia, delivers on the output cuts that they had announced in early april, we do see that the market should become tighter, in terms of supply and that we should be moving towards the sort of $80 or low 80 in the second half of 2023. so, inching higher but not going up to a hundred. i don t think we ever saw $100, not in the short term. azlin ahmad speaking to me a little earlier. now to pakistan which has cut its gdp growth estimate for the fiscal year ending injune to what is reported to be one of
is still depending on exports so if that is facing a recession, there is still that impact on china. so, it is demand driven. but having said that, i don t think. we never saw $100. we do see that going forward. but having said that, i don t think, for the argus consulting team, we never saw $100. we do see that going forward. in the second half of this year. assuming 0pec plus, and that includes russia, delivers on the output cuts that they had announced in early april, we do see that the market should become tighter, in terms of supply and that we should be moving towards the sort of $80 or low 80 in the second half of 2023. so, inching higher but not going up to a hundred. i don t think we ever saw $100, not in the short term. now to pakistan which has cut
after the world s largest exporters announced surprise cuts in production. saudi arabia and other opec plus oil producers announce output cuts of about 1.1 million barrels a day. saudi arabia said the move was aimed at stabilising the market. let s take a look now at oil prices. quite like you get a sense of that rise up sharply. it is the second time that the cartel has slashed production. the group also did so in october of last year, cutting output by 2 million barrels per day. let s discuss this in more detail with spencher welch, oil analyst at s&p global. we said there are a surprise cut in production. we have in getting used to prices falling as the nervousness around the world economy continues. what does this tell us about what
oil supplies look to tighten from next month, after saudi arabia and other opec plus oil producers announce output cuts of about 1.1 million barrels a day. saudi arabia said the move was aimed at stabilising the market. well, oil prices are currently trading higher, after the move by 0pec+. this is the second time the cartel slashed productions. the group last did so in october, cutting output by two million barrels per day. jonathan robinson is global power & energy research director at frost and sullivan. this move by saudi was something of a surprise. the us publicly ruled out new crude purchases to replenish its own strategic stockpile. how much of a collision