ANZ Bank: Geopolitics may be the driving force behind OPEC's production increase.

On March 14th, Jinshi data reported that Daniel Hynes, Senior Commodity Strategist at ANZ Bank, said that OPEC's decision to continue increasing production in April as planned means that the oil market is entering a new stage driven by fundamental factors, but the reality may be quite the opposite. Behind this decision, there may be political factors: Trump has repeatedly asked OPEC to help lower oil prices; the increase in OPEC's supply also helps the US pressure Iran and Venezuela; the Trump administration is also keen on curbing Iran's nuclear program, and the maximum pressure strategy may have a significant impact on Iran's oil revenue.

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