Why the OPEC+ agreement to boost production in 2021 hasn’t tanked oil prices
December 03, 2020 at 13:15 PM EST
It was obvious that the Organization of the Petroleum Exporting Countries and their allies, collectively known as OPEC+, would have a difficult time reaching a decision on oil production levels in the new year when the group postponed its meeting this week, but the big surprise may be that oil prices haven’t plunged, even as news emerged that the producers have agreed to increase output at the start of the year.