OPEC and its allies see oil inventories declining further in 2021 should producers extend supply curbs for three months or more, a confidential document seen by Reuters shows, supporting the case for a tighter policy on crude output next year.
The OPEC+ producer group, for now, is due to raise output by 2 million barrels per day (bpd) in January, or about 2 percent of global consumption, as part of an earlier agreement to steadily ease record supply cuts that were implemented this year.
