Opec faces balancing act in warding off taper tantrum while unwinding stimulus
As fuel demand recovers due to lockdowns lifting, producers are about to ease open taps
London — Saudi oil minister Prince Abdulaziz bin Salman likes the idea of Opec+ acting as the central bank of oil. And he expresses admiration for Alan Greenspan, former chair of the US Federal Reserve.
The challenge now confronting the oil producers’ club is one that’s all too familiar to the Fed: how to avoid a “taper tantrum”, the market panic that ensued when the institution proposed tightening monetary policy in 2013...