Prices are surging across febrile global energy markets, but OPEC+ demonstrated that it’s not ready to be diverted from its trajectory of slow and steady oil-production increases.
After a short meeting on Monday, ministers ratified a 400,000 barrel-a-day supply hike for November. While the cartel was simply sticking to its well-established plan to gradually roll back output cuts, traders reacted with alarm, pushing crude to the highest in almost seven years in New York.
