February 26, 2025
OPEC+ in driver’s seat as oil supply growth lags demand

LONDON — The surprise oil output cuts announced on Sunday by OPEC+ members illustrate their greater power over the market, given limited supply growth by other producers such as U.S. shale firms and still-growing demand despite the energy transition. Oil has jumped to $85 a barrel since members of the Organization of the Petroleum Exporting [……
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