OPEC+’s decision to delay a rollback of production cuts agreed last year has rekindled trader interest in the commodity with a view to a tighter supply picture in 2025. The latest news out of China could reinforce that interest, giving oil prices a chance to stage a last-minute recovery this year. OPEC+ agreed last week to postpone the start of bringing back production to the market to April 2025, with the full return to pre-agreement output levels seen no earlier than the start of 2027. The decision was prompted by stubbornly depressed prices,…
