OPEC+ has tricky balancing act keeping $40/b oil price floor

There is still a long way to go before Asian demand can be relied upon again

OPEC+ will not want to undo the stability it has brought to crude prices. The oil exporting alliance must now find a way of increasing production while not flooding a fragile global market.  Whether it pulls it off could depend on the strength of demand from its key Asian customers.  

After having slashed output by 9.7 million b/d since May, OPEC and its partners in a coalition led by Saudi Arabia and Russia,  relaxed their cuts to 7.7 million b/d as of August 1 and through the end of the year.

But where will all this extra crude go? Asia is the