The OPEC+ production cuts will begin in May. From July to December, overall production cuts will lower to 8 million barrels per day, followed by 6 million barrels per day from January 2021 to April 2022.
This is expected to lead to provision of clean, accessible, affordable and available energy for all domestic needs and commercial use as is expected to address the real cost of energy through the chain of generation, transmission, distribution and retailing
The outlook on Brent is broadly bullish, driven by rising constraints on the supply side. Loss of exports from Iran, low inventories, limited spare capacity and continued under-investment in the sector will drive the market into deficit from 2019,”