Oil Prices Plunge on OPEC+ Production Cut Speculation

Oil prices tumbled on Tuesday morning as speculation continued that the eight leading OPEC+ producers would unwind their voluntary production cuts. - Crude production in Iraq’s semi-autonomous Kurdistan region continues to increase as industry organizations have stated output surpassed the 350,000 b/d mark in recent weeks, the highest since early 2023.- Iraq, the largest overproducer within OPEC+ that pledged to cut 1.44 million b/d of output over the next 12 months as part of a compensation plan, has now vowed to confront Kurdish authorities…