International Business: Opec+ ‘not in talks on pausing output rises’ – Gulf Digital News
International Business: Opec+ ‘not in talks on pausing output rises’ – Gulf Digital News
LONDON: Opec+ is not currently discussing pausing oil output increases despite the United States and others releasing stocks, three Opec+ sources told Reuters.
The United States and several other nations agreed to release stocks after failing to convince Opec to pump more oil as US petrol prices soared adding to pressures on President Joe Biden amid high inflation and low approval ratings.
Opec has argued the world will soon face a new glut despite oil prices climbing towards their peaks since 2014 above $85 per barrel.
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