OPEC+ Mulls 500K BPD November Hike: Saudi’s Market Share Gambit Fuels Oil Slump | Bjarne Shcieldrop #ETNOW
OPEC+ Mulls 500K BPD November Hike: Saudi’s Market Share Gambit Fuels Oil Slump | Bjarne Shcieldrop
OPEC+ eyes accelerating November output hike to 500,000 bpd at Oct. 5 meeting, led by Saudi market share push, amid 8% crude drop to ~$65/bbl Brent. Analyst Bjarne Shcieldrop cites surplus absorption by China ending, US inventory builds, and minimal geopolitical impact; forecasts Q4 Brent average at $55/bbl amid US shutdown demand fears.
#opecplus #oilprices #crudesurplus #saudiarabia #brentcrude #opecmeeting #oilmarket #geopolitics #energyeconomics #usshutdown #etnow
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