OPEC+ output cuts to deepen H2 oil supply deficit, risk higher prices: IEA

OPEC+’s recent announcement of new output cuts this year will deepen an expected supply deficit in the second half of the year and risks higher prices as China’s economic rebound continues to drive growth, the International Energy Agency said April 14. OPEC+ on April 2 announced a surprise “precautionary move” to cut 1.16 million b/d of production this year from…