In the meantime, non-sanctioned oil production is also on the rise, fueling the perceived glut, at least for the time being. The context for the decision is plans by some OPEC producers to boost their oil production capacity in the coming years, apparently regardless of international prices. Either some of the world’s biggest oil producers are more resilient to unfavorable price movements despite their overwhelming dependence on oil revenues, or the perception of a glut is exaggerated, and demand is healthier than most reports suggest.
Author: Irina Slav
Published at: 2025-12-23 00:00:00
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