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OPEC+ stunned the oil market, announcing additional surprise production cuts until the end of this year, and while several analysts raised their price forecasts towards $100 per barrel, others don’t agree
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The move has brought concerns around inflationary pressures back to the fore, adding to worries that higher prices and an aggressive monetary tightening by central banks could tip the global economy into recession.
Markets believe oil prices of $US100 ($148) a barrel could be on the horizon - with one analyst saying the price jump could come at high speed.