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International Business Times
International Business Times
Science
AFP News

OPEC+ Cartel's Grip On Oil Market Loosening: IEA

The OPEC+ cartel's grip on the global oil market is loosening, according to the IEA (Credit: AFP)

Slowing demand growth and rising US crude production will make it more difficult for OPEC+ to continue to prop up prices, the IEA said on Thursday.

The OPEC+ cartel, led by Saudi Arabia and Russia, has been restraining production to maintain prices but the latter have recently slumped due to the weakening of the global economy and increases in output outside the bloc.

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