OPEC’s Oil Output Plunges: May Witnesses a Drop of 460,000 Barrels/Day, Fueling Market Uncertainty
In a surprising turn of events, the Organisation of Petroleum Exporting Countries (OPEC) experiences a significant plunge in oil production during May, leaving the market in a state of uncertainty. The output decline of 460,000 barrels per day (bpd), compared to April, and a staggering reduction of over 1.5 million bpd since September, is primarily…