OPEC+ Boosts Output: A Risky Oil Strategy?

OPEC+ just shook up the oil market! Bucking expectations, they're boosting output by 137,000 barrels/day starting in October, signaling a shift towards prioritizing sales volume over price, despite a 12% price drop this year. But will it pay off? Concerns are rising about a potential oversupply as demand weakens and other countries ramp up production, creating internal tensions within OPEC+ and leaving traders on high alert. Hosted on Acast. See acast.com/privacy for more information.