OPEC on Aug. 4 renewed production cuts that are expected to tighten global oil supplies and in turn keep upwards pressure on oil prices which have seen several consecutive weeks of gains recently.

Tim Evans, founder of the new consultancy Evans on Energy, joined the podcast to discuss OPEC’s production policy, the group’s objectives and what that means for oil prices. He hit on the economics as well as the politics behind some of the OPEC+ alliance’s decisions, possible tensions brewing within the alliance and whether the US can combat their desire for a tighter physical market and subsequent higher prices.

Stick around for Binish Azhar with the Market Minute, a look at near-term oil market drivers.

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