Crude oil prices could rise further if OPEC+ stops adding barrels to global supply, which is a possibility after the cartel’s next meeting, according to the Kuwaiti oil minister. “The markets are slowing. Since COVID-19 has begun its fourth wave in some areas, we must be careful and reconsider this increase. There may be a halt to the 400,000 (bpd) increase,” said Mohammad Abdulatif al-Fares, as quoted by Reuters. OPEC+ had agreed to boost oil production by 400,000 bpd every month beginning August until the group’s combined output reached pre-agreement levels towards the end of next year. But now that demand concerns are once again coming to the fore, OPEC+ is signaling that it is always ready to change tack. It’s worth noting that the Kuwaiti minister’s comments come soon after U.S. President Joe Biden called on OPEC+ to boost production by more than 400,000 bpd to offset strongly […]