overproduction

Meanwhile, only about half of the pledged OPEC+ supply increase is expected to hit the market, as some members still have to compensate for past overproduction, while others face capacity constraints.

"These are lobsters with a genetic mutation that causes an overproduction of crustacyanin, giving them a vivid, electric blue appearance."

"So you take the impact on the world economies that Trump had and that overproduction; it has meant demand is low, supply is high and prices have come down," said Mr Gormley.

Laurie Beyranevand, the director of the Center for Agriculture and Food Systems at Vermont Law and Graduate School in the U.S., highlights the strain on natural resources caused by overproduction.

As elite overproduction worsens, dissatisfied elite aspirants form “counter-elites” that seek to overturn the system.