All articles tagged with #market surplus
OPEC+ has decided to maintain current oil production levels through March, opting for caution amid a global surplus and geopolitical uncertainties, including the US capture of Venezuela's Maduro, which may impact supplies. The group aims to avoid adding volatility to an already fragile market, with ongoing challenges from geopolitical conflicts and slowing demand.
OPEC+ has announced an increase in oil production, which is expected to lead to a global surplus and lower prices, despite short-term confidence in demand. This move aims to meet summer demand and regain market share but risks causing a price decline that could hurt producers, especially US shale and Saudi Arabia, which needs higher prices to cover costs. The decision reflects a strategic shift that could impact global oil markets and economies.