OPEC+'s Output Hike Sparks Uncertainty Amid Global Turmoil

OPEC+ surprised markets by increasing oil output despite global economic concerns and trade wars. Kazakhstan's non-compliance with production quotas led to tensions within the group. With oil prices dropping, the decision may be more about political maneuvering than economics, as members struggle to maintain control.

OPEC+ unexpectedly announced an increase in oil output despite the volatile global economic climate, raising eyebrows among market analysts.

This decision comes as the group faces internal political strife, notably Kazakhstan's disregard for production quotas, contributing to the tensions.

Amidst plummeting oil prices, this move suggests a struggle within OPEC+ to maintain authority and cohesion.

(With inputs from agencies.)