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OPEC+ Looks To Defend Higher Oil Prices
Oil prices are rising today as hurricanes in North America introduce concerns over possible disruptions of supply, coupled with an easing of the U.S. dollar. But despite this respite, unease among Organization of the Petroleum Exporting Countries Plus (OPEC+) member countries continues over slower global demand and recession fears given weaker economic forecasts.,. “The stronger dollar has exacerbated worries within the OPEC+ cartel” explained LPL Financial Chief Global Strategist Quincy Krosby “and it’s looking increasingly likely that they are going to try to defend higher oil prices” The OPEC+ policy ... (full story)