OPEC+ Decision is Not Complete Without Aramco OSP

For now, it is a "wait and see attitude"

The much-anticipated virtual OPEC+ meeting took place today, ahead of the G7-proposed price cap on Russian crude oil which will go into effect tomorrow (Dec 5) along with an EU embargo.

As many expected, members of OPEC+ agreed to maintain their existing policy with no additional cuts. While this announcement looks bearish given the current market condit…