Will OPEC’s Surprise Production Cuts Push Oil Prices To $100?

OPEC+ stunned the oil market, announcing additional surprise production cuts until the end of this year and sending prices up by around $5 a barrel in a single-day surge on Monday.  Brent Crude bounced back to $85, and WTI Crude hit $80 per barrel again, as the latest 1.66 million bpd of cuts from nearly half of the OPEC+ members from May through December are expected to tighten the market in the second half of the year.   Analysts, who had just slashed price forecasts in the wake of the banking sector jitters in mid-March, raised…