OPEC+ looks to cut crude oil output by 500,000 barrels a day

OPEC+ looks to cut crude oil output by 500,000 barrels a day

Member countries of the OPEC and ally Russia are looking to cut crude oil output by 500,000 barrels a day to lift prices. This comes in addition to the already agreed reduction of 1.2 million barrels a day from late 2018 to March 2020. The price has been held down in the past few years by a resurgence in supplies from countries outside OPEC, particularly the United States.

Quik Air
Quik Air 5 months

Fuck ridiculous. Prices are too high for most people.

Petri Fide
Petri Fide 5 months

I curious why this will affect US gas prices if the US is also an oil exporter.

Just_Saying 5 months

Three years in and still no real energy plan from the Trump administration has left us more vulnerable to oil market manipulation than we need to be. We could have taken the solar panel industry back from China in the last three years, and moved forward with a transit infrastructure plan but we don’t have one of those either. We are more vulnerable today to market swings than we were four years ago.

david dindu
david dindu 5 months

time to fill up the tank

MGTOW Man 5 months

Fuckers... Making money hand over fist, and still want more. Hope Trump increases US production.

Joseph Cribari
Joseph Cribari 5 months

I'm going to go get myself a horse. fug dis

IvoryDove 5 months

They drop prices to crush fracking producers, then jack them up.

Katharine 5 months

for the holidays? that's cold đź‘Ž

Highlander 5 months

This will only affect oil importers which does not apply to America thanks to Trump. Trump has relaxed regulations and because of this Ametica is not self sufficient. I don't think America is a big exporter, but is certainly is not an importer any more so whatever OPEC does will have very little effect.

michael zubas
michael zubas 5 months

Good. time to go ALL IN on.Electric

Unity.Nat 5 months

This is what happens when you let governments control the market in a capitalist world

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