, Columnist
Oil Producers Enjoy the Calm Before the 2022 Storm
The OPEC+ group can’t go on raising production each month without tipping the oil market into surplus.
It looks calm now, it may not be for long.
Photographer: Joe Klamar/AFP
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You’d be forgiven for thinking that it’s smooth sailing ahead for the OPEC+ oil producer group.
The 23 members concluded their meeting last week in less than an hour, agreeing to raise output again in October. There were no signs of the tensions that had marred earlier gatherings, just a quick rubber-stamping of the next step in a deal thrashed out in July, which sees the group adding 400,000 barrels a day to supply each month.