[Opinion] OPEC+ is waging an oil price war — what the cartel wants and how long the fight might last

OPEC+ is waging an oil price war — what the cartel wants and how long the fight might last

The oil price war is likely to be protracted as the Saudis aim to achieve three central objectives, according to Bank of America.

OPEC+ Tests the Shale Sector

When eight OPEC+ producers decided May 3 to accelerate production increases, they cited “healthy oil market fundamentals,” but the market is ailing. There are more plausible motivations for increasing output in the face of a global economic downturn: to punish the cheaters within OPEC+, to earn goodwill from the U.S. administration before President Donald J. Trump’s upcoming trip to the region, and to test the response of U.S. shale producers. B…

Natural Gas and Oil Forecast: Will OPEC+ Cuts Push Prices Higher?

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