OPEC Is Playing The Long Game Authored by Irina Slav via OilPricecom OPEC is pursuing a long-term strategy to increase its market share and is unwinding production cuts, with oil prices remaining strong due to factors beyond OPEC’s direct control. The rise in oil prices is influenced by geopolitical developments, such as U.S.-Chinese trade talks and sanctions against Russia, as well as a decline in new non-OPEC oil discoveries. OPEC’s approach is also aimed at restoring group cohesion among its members and capitalizes on the resilience of oil demand, even as some forecasts suggest a peak in consumption. “There is… — Continue at ZeroHedge News : Read More
