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OPEC+ Shifts Strategy with Production Hike as Geopolitical Tensions Simmer
OPEC+ Shifts Strategy with Production Hike as Geopolitical Tensions Simmer
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BTCCSquare news:
Saudi Arabia and Russia spearheaded a 547,000-barrel-per-day output increase within OPEC+, marking a pivot from price support to market share recapture. The move—equivalent to 0.6% of global demand—unsettles fragile oil markets amid escalating U.S.-Russia tensions.
Washington's threat of fresh sanctions against Moscow and its trade partners, including India's continued Russian crude imports, adds volatility. Brent crude prices reacted immediately, though the long-term impact hinges on whether producers sustain volume over value discipline.
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