OPEC+ production misses targets in December – Commerzbank

💡 DMK Insight

OPEC+’s production shortfall of 720,000 bpd in December is a big deal for traders: This gap, primarily driven by Russia and Kazakhstan, signals potential supply constraints that could push oil prices higher. With global demand rebounding, especially in Asia, the market’s sensitivity to supply disruptions is heightened. Traders should keep an eye on crude oil futures, particularly if prices approach key resistance levels. If we see Brent crude testing the $90 mark again, it could trigger further bullish sentiment. On the flip side, if OPEC+ manages to stabilize production in the coming months, we could see a pullback, especially if demand growth doesn’t meet expectations. Watch for any statements from OPEC+ regarding future production plans, as these could influence market sentiment significantly. Also, keep an eye on the correlation with energy stocks, which often react sharply to changes in oil prices.