OPEC, Oil Output
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Brent crude oil price crashed on Friday amid rising trade tensions, and the downtrend may continue after the latest OPEC+ meeting
The hike follows equally sized increases scheduled for May and June, marking a clear break with years of efforts by the group to support global oil prices.
Despite some bullish signals this week, the expectation that the OPEC+ group will increase output again in July dominated the crude market during the holiday-shortened trade
OPEC’s de facto leader Saudi Arabia designed the move to punish Iraq and Kazakhstan for poor compliance with production quotas as Riyadh signaled it was unwilling to prop up the market any ...
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Kazakhstan's Energy Minister Erlan Akkenzhenov said on Thursday that an oil price above $70-$75 per barrel is likely to be suitable for all countries.