OPEC+ Vows To Respond If Countries Tap Their Oil Reserves

OPEC+ has issued a grave warning to Japan, the United States, China, India, and South Korea: unleash millions of barrels of oil from your emergency stockpiles, and we are likely to respond. That response, although OPEC+ failed to mention specific figures, would likely be changing their plans to ramp up production more slowly to compensate for the extra barrels released.  History has shown that OPEC+ members are willing to do whatever it takes to maintain their market share and keep prices within an ideal range. In 2020, right before the pandemic,…