Fears grow over oil price as Opec+ agrees to cut output

Fears grow over oil price as Opec+ agrees to cut output - short news


Cartel curbs production by 2m barrels a day despite strong US pressure

The Opec oil cartel and its allies have agreed to a significant cut in oil production targets despite significant pressure from the US.

The Opec+ group of oil-producing nations signed up to a cut in output of 2m barrels a day, squeezing supplies in a tight market.

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source: The Guardian - 05.10.2022

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