Global Oil Inventories Shrink as OPEC+ Decision Looms

As OPEC+ gears up for its next meeting, the group finds itself at a crossroads that has the potential to sway global oil markets. With the autumn months approaching, key decisions loom regarding whether to proceed with planned production increases or to maintain current output levels. The backdrop to this decision is a volatile combination of uncertain global economic conditions, fluctuating oil demand forecasts, and tightening oil inventories, particularly in the United States. Global Oil Inventories Tighten One of the critical factors influencing…