link : OPEC+ Have Agreed On An Oil Production Cut Of Two Million Barrels Per Day
OPEC+ Have Agreed On An Oil Production Cut Of Two Million Barrels Per Day
* The cut is OPEC+'s largest since the start of the COVID-19 pandemic
* It could help Russia keep financing its illegal invasion of Ukraine despite the West's efforts to cut oil and gas as a source of revenue for Putin's war machine
* The White House was 'having a spasm and panicking' over the potential outcomes of OPEC's decision, an unnamed administration official told CNN
* Biden aides took victory laps when gas prices fell at a record pace this summer
* They have been relatively silent on the issue as they start to creep back up
* Prices at the pump have jumped by 60 cents per gallon in some parts of the US
* The president told reporters that he 'needs to see the details' of OPEC+'s announcement when asked for reaction on Wednesday
* National Security Council official John Kirby downplayed the likely effects in an interview on Fox News and said the US needs to be less dependent on foreign oil
American drivers could face another increase in gas prices as the OPEC+ alliance announced it is cutting oil production by up to two million barrels a day in what could end up being a massive setback for the Biden administration.
Energy ministers from the OPEC cartel, whose leading member is Saudi Arabia, and allied non-members including Russia met in person at the group's Vienna headquarters for the first time since early 2020.
WNU Editor: This is 1 million barrels more being cut than what was predicted. The White House is now in panic mode with this production cut .... Inside the White House’s failed effort to dissuade OPEC from cutting oil production to avoid a ‘total disaster’ (CNN).
OPEC+ Have Agreed On An Oil Production Cut Of Two Million Barrels Per Day
OPEC and Russia slash oil production in bid to boost prices -- AP
OPEC+ agrees to cut oil production to boost prices -- France 24
OPEC+ agrees deep oil production cuts, Biden calls it shortsighted -- Reuters
Petrol price rise warning after Opec oil output cut -- BBC
OPEC and Russia agree to cut oil production by 2 million barrels a day -- New York Times
Fears grow over oil price as Opec+ agrees to bigger than expected output cuts -- The Guardian
OPEC+ ministers agree to cut production by 2M barrels per day -- FOX News
OPEC and Russia vote to slash oil output as they ignore Biden’s pleas -- NYPost
OPEC will cut production by 2 million barrels a day, likely sending gas and oil prices back up -- NBC
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