OPEC+ Plans to Boost Oil Supply, Potentially Dropping Prices by 10%
TL;DR
A key OPEC+ meeting this weekend is expected to decide on a 411,000 barrel per day increase in July production, which could lead to a 10% drop in crude oil prices if implemented, amid challenges like demand forecasting and member compliance issues, potentially pushing prices to their lowest since 2021.
- A pivotal OPEC+ decision this weekend could tank crude-oil prices by 10% MarketWatch
- Oil finishes down on possible OPEC+ output hike Reuters
- OPEC+ Agrees on Third Oil Supply Surge to Deepen Price Slump Bloomberg
- Oil Edges Down on Trade Jitters, Uncertainty Over OPEC+ Meeting Yahoo Finance
- OPEC+ Supply Hike of 411,000 Barrels a Day is Main Scenario Bloomberg
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