US EditionOPEC+ Gave In: Grab These Large Cap High-Yield Dividend Energy Giants Now
3 Articles
3 Articles
OPEC+ Gave In: Grab These Large Cap High-Yield Dividend Energy Giants Now
Oil prices fell below $60 per barrel before rallying back above that key level recently due to a combination of oversupply and weak demand. Global oil inventories are rising, putting downward pressure on prices. At the same time, both OPEC+ and U.S. production were increasing amid relatively stable global oil demand, as OPEC+ sought to regain market share. Some banks had expected West Texas Intermediate (WTI) oil prices to be below $60 for the r…
Starting next year, OPEC+ will not increase its oil production any further. The oil cartel is reacting to the prospect of a global oversupply.
On December 2, the Organization of the Petroleum Exporting Countries and its allies (OPEC+) decided to slightly increase oil production in December and suspend production increases in the first quarter of next year, easing market concerns about a growing supply glut and causing international oil prices to rise on December 3.
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