OPEC+ agrees deep cuts to oil production despite U.S. pressure

[HAIDER]

Oil going up crazy. Miftah wisely locked the price. Marima Nawaz and company cursed poor Miftah on price locked on TV.

 

[SD 10]

Get ready, oil price is going up ..

OPEC+ agrees deep cuts to oil production despite U.S. pressure​

Ahmad Ghaddar, Alex Lawler and Rowena Edwards
Tue, October 4, 2022 at 6:02 PM


By Ahmad Ghaddar, Alex Lawler and Rowena Edwards
VIENNA/LONDON (Reuters) - OPEC+ agreed its deepest cuts to oil production since the 2020 COVID pandemic at a Vienna meeting on Wednesday, curbing supply in an already tight market despite pressure from the United States and others to pump more.
The cut could spur a recovery in oil prices that have dropped to about $90 from $120 three months ago on fears of a global economic recession, rising U.S. interest rates and a stronger dollar.
The United States had pushed OPEC not to proceed with the cuts, arguing that fundamentals don't support them, a source familiar with the matter said.

OPEC+ agrees deep oil production cuts, Biden calls it shortsighted

OPEC+ agreed steep oil production cuts on Wednesday, curbing supply in an already tight market, causing one of its biggest clashes with the West as the U.S. administration called the surprise decision shortsighted. OPEC's de-facto leader Saudi Arabia said the cut of 2 million barrels per day...

finance.yahoo.com

Greedy mfs!

 

[nahtanbob]

Greedy mfs!

you provide servants for some of the greedy mfs

 

[SD 10]

you provide servants for some of the greedy mfs

not my problem. I wont go there ever!

 

[nahtanbob]

not my problem. I wont go there ever!

fair enough

 

[SaadH]

Greedy mfs!

Protecting their interests and doing good for their country and people. Unlike our neutral colonial sepoys, tanked their country's own growing economy for their Pops John's.

 

[Abu Shaleh Rumi]

Saudia needs freedom and democracy...

 

[HttpError]

USD's interest rate will again hike. FEDs will again raise the interest rate. Because the stock market and the crypto market has all taken this news into consideration and has tanked for the past 2-3 days.