Concern that demand for oil may weaken in the future was one of the reasons OPEC+ didn’t add additional barrels OPEC+ members aren’t keen to derail the current oil price rally Concern that demand for oil may weaken in the future was one of the reasons OPEC+ decided to stick with its original agreement to add 400,000 bpd in combined supply to markets instead of responding to calls for additional production, Reuters has reported , citing unnamed sources. The other reason the cartel stuck to 400,000 bpd monthly was, unsurprisingly, the higher revenues that all oil-producing countries are enjoying because of the oil price rally, the Reuters sources said. “Everyone is happy,” said one of these sources, an OPEC+ delegate. However, a larger supply addition of 800,000 bpd was considered ahead of this Monday’s OPEC+ meeting, the Reuters sources also said, adding that eventually, it was dropped in favor […]