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Oil Prices Fall After OPEC Plus Affirms Plan to Raise Production
OPEC+ to boost oil output in April, sending Brent prices to six-month low
After very low Brent oil prices at the end of 2024, where the average price fluctuated around $80, March brings us the lowest price in the past six months. The reason for this is the announcement of OPEC+ to increase oil production starting in April, which will greatly affect market saturation and price.
OPEC+ Rethinking Oil Production Rampup After Trump Complications
OPEC Plus says it will go ahead with its plan to increase crude-oil supply. The decision by the oil-producing group of countries follows pressure from US President Trump on OPEC to bring down prices. Eight members said Monday they will gradually raise production from next month.
The Loft of Shared Dreams in Davos underscored the need for collective vision and collaboration to address global issues, transform industries and redefine success.
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