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OPEC+ Decides on Slight Cut in Production
The alliance of oil exporting countries cuts production. Saudi Arabia and Russia are sending a clear signal to the West. With the cutback, the hopes of oil importers in Europe that they would at least be relieved of the burden of crude oil in the face of rapidly rising gas prices are fading.
The major oil nations of the OPEC+ alliance are slightly lowering their production target / Picture: © Wikimedia Commons / DALIBRI / CC BY-SA (https://creativecommons.org/licenses/by-sa/3.0)
The major oil nations of the OPEC+ alliance are again slightly lowering their production target after increases in recent months. The joint daily production for October will be reduced by 100,000 barrels (159 liters each), it was said after the OPEC+ online meeting of oil ministers from about 20 countries. This reverses the recent production expansion by OPEC+, which is dominated by…
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