OPEC+ has once again captured the oil market’s attention with its decision to gradually raise output from April 2025, a move that was long anticipated but remained uncertain due to shifting geopolitical and economic factors. Oil prices had already been under pressure in recent weeks, with Brent crude sliding below $71 per barrel and WTI hovering around $67.8 per barrel. The decline reflects broader market sentiment that global supply is more than adequate, and any additional barrels from OPEC+ could intensify the bearish outlook. However, the true impact of this production hike extends far beyond just crude prices—it directly influences the trajectory of U.S. shale activity, particularly the Frac Spread Count (FSC) and overall completion dynamics.
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