In a World With Too Much Oil, OPEC+ Sweats Its Next Move
- Oil market signals to OPEC+ it doesn’t need more crude
- OPEC+ delegates privately debate whether to delay output hike
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The world is awash with oil. Yet, in less than eight weeks, OPEC+ is set to pour even more barrels into the glut.
For many in the oil market, it’s the wrong move. Increasingly, some inside the OPEC+ coalition are also wondering if the group should reconsider.