Zero Hedge
By Tyler Durden – March 2, 2022
In what one observer called “the fastest one yet” – the meeting lasted just 13 minutes, beating last month’s record for brevity – OPEC+ 23-nation coalition led by Saudi Arabia ratified an increase of 400,000 barrels a day on Wednesday, continuing the gradual restoration of output halted during the pandemic, according to delegate sources.
This was merely ratifying the plan – as expected – and notably gives no deference to President Biden’s urgings for the cartel to raise production to rescue his approval ratings at home.