|
Re: Gas Prices?
OPEC Plus Agrees to Cut Production by 100,000 Barrels a Day
OPEC said Monday it would reduce oil production next month, the cartel's first output cut since the depths of the pandemic, as it braces for a global economic slowdown to hit demand.
The Organization of the Petroleum Exporting Countries and allied oil producing nations, including Russia, agreed to shave 100,000 barrels per day off their production targets in October.
Just a month ago, the OPEC+ group agreed to increase production in September by the same small amount — equivalent to about 0.1% of global demand — after coming under intense pressure from the United States and other big oil consumers to do more to bring down energy prices and inflation.
|