Oil prices have recovered from the lows seen back in April last year when Brent fell to US$16 per barrel, while WTI hit negative US$40. The price crash resulted in OPEC instituting the biggest production cuts in history, slashing 10 million barrels of oil per day. But in 2021, will OPEC continue to maintain its production cuts, and what is the outlook for oil prices? Yong-Liang Por, Consultant at Institute for Energy Economics & Financial Analysis (IEEFA), tells us.

Image Credit: Shutterstock.com

Produced by: Shazana Mokhtar

Presented by: Lyn Mak, Wong Shou Ning

Download the BFM mobile app. Stay at home and stay up-to-date.

Tags:  oil,  oil prices,  WTI,  OPEC,  production cuts,  Commodities, Agribusiness,  Government/Regulatory/Policy Making,  Economy, Markets,  Politics, News, Current Affairs