Tuesday, October 13
Despite oil trading low at $60, OPEC+ this week is expected to continue to further open the taps.This follows pressure from US President Donald Trump and group leader Saudi Arabia's quest to penalise allies that breach the cartel's quotas.In past months, Saudi Arabia, Russia and six other OPEC+ members have surprised markets by announcing a sharp increase in oil production for May and June despite the low prices.Numbering a total of 22 countries, most of which are highly dependent on oil revenues, the group has long been exploiting supply scarcity to boost prices, holding millions of barrels in reserve.This week the cartel will hold two meetings -- one online on Wednesday with all OPEC+ members to discuss the group's common strategy, and one on Sunday with just the eight member states -- k
