Waning Influence Of OPEC+ In Spotlight As Prices Flag

The expansion of OPEC has proved to be a double-edged sword for the cartel as it means decision-making has become more difficult, according to Swissquote analyst Ipek Ozkardeskaya
Despite slashing oil production for months on end and announcing new cuts in late November, the Organization of the Petroleum Exporting Countries (OPEC) and its ten allies have struggled to boost flagging prices.
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Oil producers are grappling with falling prices and high market volatility amid the Russian invasion of Ukraine

Saudi-Russian Discord Clouds OPEC+ Talks

In April, countries were caught off guard when several OPEC+ members agreed to voluntarily cut production by more than one million barrels per day (bpd), which briefly buttressed prices but failed to bring about lasting recovery.


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