OPEC+ Confirms it Has No Specific Price Target For Crude Oil

Despite recent rumors, sources within OPEC+ have confirmed there's no specific price target for crude oil, including the oft-discussed $100 per barrel. This comes in response to speculation that Saudi Arabia, a key player in the group, may allow lower prices to reclaim market share by boosting production. Anonymous OPEC+ members who spoke to Argus today quickly dismissed these claims, insisting that their strategy is driven by market fundamentals, such as the five-year average of global crude inventories, rather than a set price. A Financial Times…