Eni CEO Says OPEC+ Moves Raise Oil Price Volatility

The OPEC+ group’s efforts to manage oil supply to the market are creating price volatility and reducing visibility for investment in new production, Claudio Descalzi, chief executive of Italy’s energy major Eni, said on Monday. OPEC+ producers who are voluntarily curbing production and who planned to begin easing part of the output cuts beginning in December 2024, are now postponing the supply increase by a month, until January 2025, OPEC said on Sunday. The news of the one-month delay was immediately registered in the oil market on…