OPEC’s continued production cuts may cause oil prices to face the risk of rising (June 6)

June 6th, according to foreign media news, Fatih Birol, the head of the International Energy Agency, warned at an industry conference on Monday that a new agreement among OPEC oil producers to limit supply and Saudi Arabia’s surprise announcement of an additional production cut of 1 million in July After bpd, the possibility of a rise in oil prices has increased significantly. Fatih Birol said that the market has expected that there will be an imbalance between supply and demand in the oil market in the second half of the year, and OPEC‘s decision to continue reducing production means that the gap between supply and demand in the oil market will widen in the second half of the year. Earlier, the IEA had warned that crude oil and energy prices were at risk of rising crude oil and energy prices this year as supply cuts by oil-producing countries amid heightened uncertainty. For now, the macro outlook remains a more important price driver than fundamentals for oil prices.