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OPEC+ panel agrees to cut oil production by 2 million barrels/day
short by Ashley Paul / on Wednesday, 5 October, 2022
The panel of OPEC+ ministers on Wednesday agreed to cut oil production in member countries by two million barrels/day. The supply-cut could cause a rise in crude oil prices that have dropped to about $90/barrel from $120/barrel three months ago on fears of a global recession. United States of America had suggested OPEC to not proceed with the cuts.
read more at Reuters