OPEC+ Continue Efforts To Prop Up Oil Prices

August 27, 2023

Saudi Arabia and other OPEC+ producers continue their efforts to prop up the price of oil. Prices have risen lately, but that is quite possibly due to the relatively positive outlook for the oil consuming nations rather than attempts to restrict supply.
That said, the supply situation is tight enough that an unexpected demand surge from China or other consumers could produce a price shock that could easily take crude past $100