Trending

September Surprise: OPEC Slashes Oil Production As Prices Fall

The oil producing nations and allied producers agree Monday to cut production by 100,000 barrels a day

  • Group agreed last month to boost oil production in September by 100,000 barrels a day.
  • OPEC said group and its allies have agreed to “revert to the production level of August 2022 … for the month of October.”
  • Crude oil prices have reportedly fallen 25% in the past three months.
  • Saudi Arabia’s energy minister reportedly warned last month that OPEC+ countries could cut oil production at any time.
  • If cut increases prices of oil, gasoline in U.S., it could slow momentum of Democrats trying to win midterms on fall prices.
Click to read full article Go back home

Sign Up for Our Newsletter

Join our list!

Sign up here to get our daily newsletter with the top trending headlines.