Can OPEC+ Prevent Another Rout in Oil Prices?

The OPEC+ group may not have any options left to counter the extreme bearishness in oil markets by further restricting supply. Bullish sentiment is likely to re-emerge if there is good news on the demand front.  For now, good news about oil demand looks a distant prospect, especially after the end of the peak summer driving season. Concerns about the Chinese economy and the country’s oil demand add to worries about slowing economic growth in the developed economies to depress markets. These concerns have prompted analysts and investment…