OPEC+ influence wanes amid Iran war, market shifts to China
LONDON: Six months into the war with Iran, OPEC+ finds itself in a diminished role, unable to steer a global oil market it once dominated, as wartime disruptions and shifting demand from China reshape
Share
Desk Analysis
How This Affects the Exchange
Sector Effect
Negative · Do not buy
Cautious read for Oil & Gas — price/volume reaction may stay soft near-term.
Sectors & Direction
Desk read
Desk call: Do not buy · Negatively affected
- Oil & GasNegatively affected
Companies
Mentions in This Briefing
Sectors: Oil & Gas — Negative · Do not buy. PSX tickers: OGDC, PPL, MARI, PSO, SNGP, ATRL. Cautious read for Oil & Gas — price/volume reaction may stay soft near-term.
Full Story
Open on Bol NewsLONDON: Six months into the war with Iran, OPEC+ finds itself in a diminished role, unable to steer a global oil market it once dominated, as wartime disruptions and shifting demand from China reshape the energy landscape, Reuters reported. The conflict, which has closed the Strait of Hormuz, a vital export route for Saudi Arabia, ... Read more The post OPEC+ influence wanes amid Iran war, market
Source: Bol News — https://www.bolnews.com/world/opec-influence-wanes-amid-iran-war-market-shifts-to-china/