OPEC+ Sticks to Oil Cuts Despite Falling Prices, Risking Fragile Demand and $100+ Crude

OPEC+ has decided to maintain current oil production cuts despite falling crude prices, raising concerns about high prices damaging demand.

While U.S. gasoline consumption has dropped, demand is rising in China, India, and Brazil, potentially offsetting reductions elsewhere.

Forecasts suggest oil prices could soon reach or exceed $100 per barrel, sparking debate about the balance of supply and economic impact.

Major oil consumers like India warn about unintended consequences from production cuts but say they will manage even with $100 oil.

Analysts say OPEC+ is balancing high prices to benefit producers without destroying too much demand, but the situation appears delicate.