Supply Shock: Drone Attacks Slice OPEC+ Output Global oil oversupply might not be as bad as the market feared, thanks to significant disruptions in the East. Commerzbank highlights that OPEC+ missed its December targets by a massive 720,000 bpd. The primary culprit? Intensifying Ukrainian drone attacks on Russian and Kazakh infrastructure. With Kazakh production crashing 35% in the first weeks of January and tankers coming under fire, the supply side of the equation is tightening rapidly.
Commerzbank: OPEC+ Production Falls Short of December Targets
