An influential oil producers' alliance could collapse if unity dissolves around output policy, according to the managing partner of investing group Clean Energy Transition. The breakup of OPEC+, Lekander said, could send oil prices careening to as low as $35 per barrel. Oil prices, which are down sharply year-to-date, were trading slightly higher on Thursday afternoon. The OPEC+ group has sought to distance itself from accusations of cartel behavior, saying its policies target global supply inventories, rather than specific fixed prices. Nevertheless, some Middle East nations in the coalition, which heavily depend on fossil fuel revenues, list oil price assumptions and forecasts in their national budget plans.

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Persons: Per Lekander, Lekander Organizations: OPEC, Brent, U.S, West Texas Locations: OPEC