Saudi Arabia Forces OPEC+ Output Surge to Punish Cheaters, Risking Price War
Saudi Crackdown: OPEC+ shocked markets by tripling its planned May output hike to 411,000 bpd (0.4% of global supply), a direct rebuke to Kazakhstan and Iraq for repeatedly exceeding production quotas. Price Plunge: Oil crashed 8% to under $65/barrel—lowest since 2021—as the move collided with Trump’s tariffs and China’s retaliation fears. No Turning Back: Sources […]