OPEC Plus Maintains Output, Uncertainty Persists

OPEC Plus maintains current oil output, citing market stability and low inventories. However, the global oil market faces complex issues, including the Ukraine conflict and sanctions on Russia, Iran, and Venezuela. Despite a surge in oil on water, theres hope for increased Iranian and Russian oil imports to China. The market awaits a peace deal in Ukraine to alleviate tight product markets. OPEC Pluss decision seems sensible, with potential further cuts needed to keep oil prices stable.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.