https://www.zerohedge.com/commodities/running-thin-ice-opec-head-warns-oil-squeeze
Al-Ghais said producers in OPEC are nearing the upper limits of additional supplies they can deliver to the market:
"We
are running on thin ice, if I may use that term, because spare capacity
is becoming scarce. The likelihood of a squeeze is there."
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OPEC Secretary-General Haitham Al-Ghais sat down with Bloomberg Television and said speculation fears over slowing consumption in China and the rest of the world had been greatly exaggerated.
Ahead of the next OPEC+ meeting on Sept. 5, Al-Ghais said it's still too early what the 23-nation group will agree on:
"We've
demonstrated time and time again in the past that we're willing to do
whatever it takes to do what the market really requires," Al-Ghais said.