OPEC+ struggles to pump more oil to meet rising demand | Reuters
OPEC and its allies struggled again to pump enough oil in August to meet global demand as it recovers from the coronavirus pandemic, potentially adding to upward pressures on oil prices.
Several OPEC+ members such as Nigeria, Angola and Kazakhstan have struggled in recent months to raise output due to years of under-investment or large maintenance work that has been delayed by the COVID-19 pandemic.
Cheating and producing above targets have traditionally been one of OPEC's main problems but the situation has changed in recent years as investment has flowed into the renewables sector as part of the energy transition.
Despite the rise in renewables, the world is still consuming near-record amounts of crude, which will put additional pressure on Saudi Arabia and OPEC's other leading Gulf producers to pump more oil in the years to come.
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