Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a summary of a detailed note available to paid subscribers.
Yesterday, OPEC+ announced another three-month delay to its planned increase in oil production that was scheduled for January. Slumping oil prices and concern over economic growth prompted the decision.
OPEC+, which provides over half of global oil, extended its voluntary production cuts of 2.2 million barrels per day until the end of March 2025. Volumes would be restored over an eighteen-month period ending in September 2026.
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