bearish

Crude Oil

Crude Prices Tank Despite OPEC+ Supply Cuts; Brazil to Join OPEC+

991 Views01 Dec 2023 19:15
​OPEC+ extends supply cuts till Q1 2024 but crude prices fall due to uncertainty. Brazil to join coalition in 2024 which will have major geo-political ramifications.
Boomeranged on Fri, 22 Dec 2023 01:46
Related to the dispute between Angola and OPEC+ mentioned in this paper, Angola has announced that it has departed OPEC. Angola's oil minister stated that the organization no longer served the country's interests. The departure raised concerns about the stability and unity of OPEC and OPEC+ which caused WTI to fall 1.6%. Read the full update in discussions.
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