The Organization of the Petroleum Exporting Countries (OPEC+) wrapped up its two-year oil production increase strategy on Sunday, but its impact is uncertain. Saudi Arabia, along with its partners, introduced more barrels to a fragile global market, easing consumer concerns and boosting US President Donald Trump’s popularity. However, this surprise move has left crude traders with a cliffhanger, awaiting OPEC+’s next steps.
Source: https://www.bloomberg.com/news/articles/2025-08-03/opec-leaves-traders-with-cliffhanger-as-tumultuous-chapter-ends