After a month in which oil prices surged 15 per cent and geopolitical tensions seethed around the world, OPEC and its allies took a record-quick 16 minutes to decide that they would stick to their previously planned output increase.
Apparently, there were no lengthy discussions at Wednesday’s meeting about member nations of the producer group failing to hit their production targets or about one of the busiest months on the geopolitical front in years, featuring: a potential war between Russia and Ukraine; rare unrest in Kazakhstan; hints of progress in nuclear talks progress between the United States and Iran; and repeated Houthi drone attacks on the United Arab Emirates.
