New challenges face OPEC+ – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News

New challenges face OPEC+ – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News

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WITH three crude oil production cuts and another one on the way from next month, there are new challenges facing OPEC+, as the oil prices are still staying stubbornly below $75 per barrel. Nothing seems to be moving oil prices up, despite the various analytic predictions about higher oil prices this year. The disunity in OPEC+ after the last meeting set the direction of many differences in opinions, which resulted in Saudi Arabia taking the sole decision of cutting its own production by one million barrels per day within the coming few days.