from24/7 Wall St.
6 hours agoOPEC+ Supply Surge: 3 Oil Stocks to Sell Before the Crash
OPEC+, the coalition of major oil producers plus Saudi Arabia and Russia , plans to increase crude output by 500,000 barrels per day (bpd) starting in November. This daily hike will continue for three months, injecting about 45 million additional barrels into the global market amid already weak demand caused by economic slowdowns in the U.S. and Asia. The move, aimed at balancing supply, risks creating an oversupply that could drive down prices.
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