2022 could be a very good year for OPEC+ producers
There is no denying the great capacity that this oil market (OPEC) has had to manage the production of resources associated with hydrocarbons, which is why it can be said that the year 2021 was a very good year for OPEC despite the problems with the pandemic.
The differences between countries that make up OPEC have been put on the back burner to then work together to overcome all obstacles. There were OPEC countries at the height of the pandemic that refused to cut production; however, after arduous work among its members, the largest production cuts in the history of oil production in the OPEC market were achieved, since the drop in demand for hydrocarbons as a result of the Covid-19 pandemic caused OPEC to react by having to cut production in order to raise prices a little.
For the year 2022, I believe that OPEC will continue to triumph and make the best decisions, since the future associated with the normality that humanity so much yearns for seems to be a little far from being reached, so maintaining an increase in production could mean an oversupply of oil, and consequently a drop in its prices. Perhaps with consensual meetings, some production adjustments can be made to normalize prices.
Certainly these last two years have been difficult for OPEC due to the problems of the pandemic, but it is also true that its capacity to react to these adversities has been proven and it has triumphed.
In conclusion, the best thing that can happen to the OPEC+ oil market is that normality comes to our lives and a systematic cure to this pandemic can come so that the stability of this market (OPEC) can sustain an economy that is stable in the commercialization of hydrocarbons.
