Oil prices raced past $81 today as OPEC+ refused to increase production by more than the agreed-upon 400,000 bpd this month There are now fears in the market that OPEC+ may not actually be capable of increasing production much further While Saudi Arabia and the UAE have boosted production recently, the other cartel members have all seen production fall this year A year ago, the oil industry was struggling to stay afloat, with OPEC producers being told they were becoming increasingly irrelevant in a world set on a renewable energy path. Fast forward to today, and analysts are talking about crude oil reaching $100 before the year ends. Now, even if OPEC and its allies wanted to help those who find the current prices too steep, they may not be able to. Earlier this year, the cartel and its allies, led by Russia, decided to return 400,000 bpd to […]