08 Oct, 23

OPEC+ Stands Firm As Global Oil Demand Teeters

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Last week, OPEC+ decided to keep current oil production cuts in effect until the end of the year. The announcement was anything but surprising, and yet crude oil prices fell substantially, sparking suggestions that the OPEC+ cuts may already be activating what many call the cure for high oil prices, which is even higher prices. But there is a possibility that oil has higher to go still before it begins affecting demand. The question, as always, is just how high. The answer: perhaps a bit higher. India’s oil minister this week warned about…

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