Photo: ASSOCIATED PRESS/Markus Schreiber Previous Next The idea is to boost oil prices that have fallen from summer highs of over $100 to around $80 for U.S. The OPEC+ alliance that includes Saudi Arabia and Russia is weighing a cut of a million barrels per day or more. A cut in oil production is on the table when OPEC oil-producing countries meet Wednesday. People and media gather at the entrance of the building of the Organization Of The Petroleum Exporting Countries, OPEC, in Vienna, Austria, Wednesday, Oct. The OPEC+ decision could help member Russia weather a looming European ban on most of Moscow’s oil, but its impact will have some limitations because countries in the alliance already can’t meet their quotas. or Europe will sink into recession due to high inflation, rising interest rates and energy uncertainty over Russia’s war in Ukraine. Oil is trading well below its summer peaks because of fears that major global economies such as the U.S.
“We are here to stay as a moderating force, to bring about stability,” he told reporters.
The group said the decision was based on the “uncertainty that surrounds the global economic and oil market outlooks.” Saudi Energy Minister Abdulaziz bin Salman stressed the group’s stated role as a guardian of stable energy markets.
December weather in vienna austria drivers#
drivers just ahead of key national elections.Įnergy ministers cut production by a larger-than-expected 2 million barrels per day starting in November after gathering for their first face-to-face meeting at the Vienna headquarters of the OPEC oil cartel since the start of the COVID-19 pandemic. FRANKFURT, Germany (AP) - The OPEC+ alliance of oil-exporting countries decided Wednesday to sharply cut production to support sagging oil prices, a move that could deal the struggling global economy another blow and raise politically sensitive pump prices for U.S.
0 kommentar(er)
