OPEC Faces Uncertainty on Oil Supply Demand Outlook - Bloomberg:
What do OPEC and the Federal Reserve have in common, other than being on the receiving end of angry tweets from President Donald Trump?
They are both having a particularly terrible time assessing the outlook for demand, and this is making setting policy exceptionally fraught.
The Fed must adjust interest rates and other policy levers to achieve its twin goals of low and stable inflation and full employment. In the case of OPEC nations and their band of friends, ministers have to judge the production needed to balance global supply and demand. At the current juncture, this means deciding whether to continue restraints on output set at the start of 2017 – their current deal to cap supply ends in three months.
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