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What does an OPEC+ accelerated return of cuts mean?
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Report summary
OPEC+ agreed to accelerate the return of voluntary cut volumes in May and June. We examine the impact of a continuation of the accelerated easing of production restraint through October 2025, when the 2.2 million b/d voluntary cut would be fully returned to the market. We compare this scenario with our 2 May Macro Oils monthly update and look at the impact on oil supply and price.
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