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Should You Buy Oil ETFs as OPEC Delays Output Hike?
The OPEC+ alliance is once again intensifying efforts to ensure member compliance with its agreed oil production cuts, continuing a three-pronged strategy that includes formal and voluntary output reductions. Two OPEC+ delegates, speaking anonymously due to the sensitivity of ongoing discussions, revealed to CNBC that the coalition is particularly focused on monitoring compliance due to consistent overproduction by members like Iraq and Kazakhstan. Russia, whose oil is under Western sanctions and often transported through a "shadow fleet," has also exceeded its production quota at times, according to one source. No ... (full story)
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- Posted: Oct 2, 2024 2:12am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 115
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