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OPEC+ Set to Convene at 17:00 Beijing Time, Market Insights Predict Quicker Production Hike
3 day ago /
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Author：小编
Eight member nations of OPEC+ will convene an online session at 17:00 Beijing time to deliberate on the oil production strategy for August. It is anticipated that these nations may opt to further escalate production levels in a bid to broaden their market share. Should this mark the fourth consecutive monthly production increase, it will significantly impact the global oil supply-demand equilibrium in the latter half of the year, potentially catalyzing a swift rise in oil inventories. Prior to this, OPEC+ has consistently hiked production over the past three months, strategically aiming to recapture market share from non-OPEC+ oil producers.
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