Oil Prices React to OPEC Cuts and IEA Warnings

JP Morgan analyst Christyan Malek warns that OPEC's recent production cuts, aimed at boosting oil prices, are a "red flag" for oil stocks as they tend to underperform after such cuts due to weak demand that may take time to recover. Energy equities generally struggle to outperform the broader market and at best trade broadly flat in the context of OPEC cuts aimed at managing supply in the face of deteriorating economic fundamentals.