OPEC's Oil Boost: A Temporary Reprieve from Global Supply Worries The recent decision by OPEC+ to raise output targets has sent oil prices tumbling.
The move will add 188,000 barrels per day to global supplies starting in August, but its timing and implications deserve closer examination.
The increase in output targets has been largely symbolic, given the ongoing tensions between the US and Iran that have capped production for several key OPEC producers.