OPEC+ Quota Hikes Yet to Deliver Oil Surge, Morgan Stanley Says
The OPEC+ alliance may be boosting oil-production quotas at a significant pace in a push to restart idled capacity, but that shift has yet to translate into big gains in actual output, according to Morgan Stanley.
'Notwithstanding the around 1 million-barrel-a-day increase in production quotas between March and June, an actual increase in production is hard to detect,' analysts including Martijn Rats said in a June 9 note. 'Notably, it does not appear that production in Saudi Arabia has ramped up significantly.'
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