Why OPEC+ is Supporting a Potentially Disastrous Rise in Oil Production ...Middle East

OILPRICE - Economy
Why OPEC+ is Supporting a Potentially Disastrous Rise in Oil Production
source : OILPRICE ( Middle East ) () 117
Oil prices have fallen fast since the 3 March announcement from OPEC+ that it will go ahead with a planned rise in its collective oil production. The prospect of increased supply from the group has added to the bearish tone created by rising supply from other key producers and from uncertain demand projections from the world’s biggest importer of oil, China. Lower oil and gas prices is precisely what Donald Trump wants to see in his second term as U.S. president, but with budget breakeven oil prices much higher than even current levels, many…

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