Opec+ to Cut Oil Output to Prop Up Prices

• 3 min read
Opec+ to Cut Oil Output to Prop Up Prices

MARKET MOVERS

  • OPEC+ agrees to the biggest oil production cut since the start of the pandemic. The Organization of the Petroleum Exporting Countries and its Russia-led allies agreed on Wednesday to slash output by two million barrels of oil a day, delegates said, a move likely to push up already-high global energy prices and help oil-exporting Russia pay for its war in Ukraine.

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