Reported about 12 hours ago
OPEC+ is poised to accelerate its oil production increases, potentially adding up to 2.2 million barrels per day by November, as Saudi Arabia aims to penalize member countries like Iraq and Kazakhstan for exceeding their quotas. This strategy comes in response to previous decisions that shocked the market and follows a pattern of cutting output to balance prices amid weak demand. The organization is expected to maintain this trend into the upcoming months, with further hikes likely if compliance does not improve.
Source: YAHOO