After a dreary stretch that saw oil markets record the worst monthly loss this year, the markets have kicked off trading in September on a brighter note. Both WTI and Brent crude were above $70 per barrel for the first time in weeks after OPEC+ agreed to keep its current production agreement in place , maintaining the 400K bbl/day hike scheduled for October. The group took less than an hour to make its announcement this time around, a stark contrast to the lengthy negotiations at previous talks. Later on Friday, WTI slipped just below this level, but the catalysts are there to bring it back. The markets have taken this to signal that global oil markets are in better shape than earlier feared, with the delta variant of Covid-19 causing widespread lockdowns and fears of another recession. But that’s just one of several positive developments that have turned the […]