Post-cut oil price behaviour shows OPEC+may have lost teeth
Arabian Post Staff The decision by OPEC+ to extend production cuts into the second quarter of 2024 has ignited a debate about its effectiveness in manipulating the market. While the intended consequence is to prop up oil prices, the reality is often more nuanced, raising questions about the organization’s long-term control over the oil market. Historically, OPEC’s production cuts have indeed influenced oil prices. In the past, […]