OPEC+ Oil Cuts Project A Supply Squeeze and Economic Headwinds, Analysts Warn

The IEA warns that OPEC+'s surprise supply cuts could worsen existing oil deficits and slow economic recovery.
Higher oil prices may force consumers to spend more on necessities, leaving less for economic activity.
Russia's March oil exports reached pre-pandemic highs despite import bans, demonstrating the limits of sanctions.
Stagnant growth in OECD countries contrasts with China's increasing oil demand, creating an imbalanced market.
The supply cuts will reduce global oil supply by 400,000 barrels per day by year's end, according to the IEA.