Tag: OPEC+
Raised Oil Prices Following OPEC+ Decision Spell Out Continued Inflation
Relations between the United States and Saudi Arabia are weakened in response to OPEC+’s output cut last week. While the Biden Administration has encouraged Saudi Arabia’s oil production, the group decided to reverse its policy of gradually increasing production. OPEC+’s decision will incur numerous consequences. This involves an increasing already-inflated oil prices and tightening the already limited production of oil. Oil prices have […]
OPEC+ Reiterates Original Guidance
Crude oil prices are on the rise in the first two trading days of 2022. An OPEC+ press release was released on January 4, 2022, with oil production guidance for the start of the new year. Many believed leading up to the press release that the guidance would remain the same and there would be […]