What’s The Real Reason Behind OPEC+’s Surprise Oil Production Boost?

OPEC+’s decision last week to increase its collective oil production has surprised many, given the soft outlook for oil prices for the remainder of this year and into next. It is true that the 137,000 barrels per day (bpd) rise from October is much lower than the 411,000 bpd and 555,000 bpd respective increases for the June and July period, and for the August and September timeframe. However, the rise in oil output also means that the group – which comprises the original OPEC members ‘plus’ Russia – is beginning to…Weiter zum vollständigen Artikel bei OilPrice.com Weiter zum vollständigen Artikel bei OilPrice.com