Will OPEC+ Opt for This Risky Strategy to Spur Future Oil Demand?

A month before OPEC+ is set to announce its decision on whether the gradual easing of the ongoing oil production cuts will start as planned in October, the market is rife with speculation about the group’s output policy. The latest hint from OPEC+ sources that the unwinding would begin as scheduled sent oil prices plunging further below $80 per barrel on Friday. The market reacted to the possibility of more supply at a time when demand appears shaky, especially in the world’s top crude oil importer, China. At the current level of $74…