OPEC+ Ready To Risk Higher Prices

OPEC+ is ready to risk prices going higher and affecting demand rather than add more supply to curb the upward potential of benchmarks, Reuters’ John Kemp wrote in a column this week. According to Kemp, OPEC+, like U.S. shale oil drillers, tend to put more weight on the downside risks for prices than on upside risks. Indeed, Saudi Arabia’s oil minister Abdulaziz bin Salman earlier this week said OPEC+ was in no rush to boost production in response to calls for more barrels as the cartel didn’t take anything for granted. “We…