Energy

Oil prices could skyrocket if OPEC+ fails in pledge to deliver more supply

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Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman Al-Saud speaks via video link during a virtual emergency meeting of OPEC and non-OPEC countries, following the outbreak of the coronavirus disease (COVID-19), in Riyadh, Saudi Arabia April 9, 2020.

Saudi Press Agency | Reuters

OPEC heads into Thursday’s meeting with Russia and other allies with a better command of world oil prices than it has had in years, analysts said.

OPEC+, the organization of oil-producing countries and its allies, is expected to consider adding between 500,000 and 1 million barrels per day, but analysts said there is some talk it may consider no increase. Reuters reported that an internal OPEC report points…



Source cnbc.com

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