Token Supply Gesture Signals Group Cohesion

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Austria OPEC Meeting
Alexey Vitvitsky/Sputnik via AP
  • Opec-plus' decision to raise output by 100,000 barrels per day in September sends the faintest of signals to the US and other consumers that their oil price concerns aren't being ignored entirely.
  • The louder, clearer message was of alignment between Saudi Arabia and Russia, and of their intent to keep the alliance alive to ensure effective market management.
  • The decision comes amid unrelenting inflationary pressures and a complex geopolitical environment — with US-China tensions soaring this week but Iran nuclear talks also resuming.

The Issue

Opec/Opec-Plus, Opec-Plus Supply , Sanctions, Oil Prices
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