All Eyes On OPEC+ As Oil Prices Drop Below $90

OPEC+ may have to make much deeper cuts to their collective oil production targets this winter as a recession looms over Europe as it struggles with a severe energy crisis and China shows signs of waning oil demand.  The token 100,000-barrels-per-day (bpd) cut announced this week is largely irrelevant to the oil market balance. But it sent a strong message to the market that the OPEC+ alliance is back in price-watch mode and appears determined not to let oil fall too far below $90 a barrel, analysts say.  Recession Fears After an initial…