Why OPEC Won’t Open The Taps — Irina Slav

Summary:
Middle Eastern OPEC producers have made it clear that they do not plan to increase production beyond the current OPEC+ quotas.The producers believe that the current price rally has been driven by geopolitical factors rather than market fundamentals.Saudi Arabia’s energy minister did recognize that years of underinvestment in oil exploration was now causing risks on the supply side.The Saudis are the swing producers so they set the price. OilpriceWhy OPEC Won’t Open The TapsIrina Slavhttps://oilprice.com/Energy/Energy-General/Why-OPEC-Wont-Open-The-Taps.htmlSee also at OilpriceOil Prices Will Hit 0 And Stay There - Vitol CEOIrina Slavhttps://oilprice.com/Energy/Energy-General/Oil-Prices-Will-Hit-100-And-Stay-There-Vitol-CEO.htmlThe U.S. Will Be A Net Oil Importer In 2022 |

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