Post Tagged with: "output hike"

Source: Reuters

OPEC+ output hike gamble pays off as oil prices recover


LONDON, Dec 9 – The gamble taken by OPEC and its allies, under pressure from top oil consumer the United States, to raise oil output in January despite its own forecasts of oversupply, appears to be paying off as …

Source: Reuters

OPEC+ sees tighter oil market despite output hike


LONDON/MOSCOW – OPEC+, which on Tuesday rubber stamped an earlier decision to go ahead with production increases over the next two months, now sees the oil market tightening further than previously anticipated.

Under their existing plan, the Organization of …