money-talks

OPEC+ surprises markets with larger than expected output hike

The world's oil exporters surprised markets this week, announcing a larger-than-expected hike in output. The Saudi-led alliance OPEC and its allies said they would pump an extra 648,000 barrels of crude out of the ground every day, starting July. That's 50% higher than this month's increase. But oil prices still shot up, with investors viewing the adjustment as too small for a global economy growing increasingly thirsty for crude. For more, let's hear from energy analyst Sophie Unubasceanu, who says oil price hikes will be difficult to stop. #OPEC #OilPrices #OilSupply

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