Editor’s Note: A version of this story first appeared in CNN’s Meanwhile in the Middle East newsletter, a three-times-a-week look inside the region’s biggest stories. Sign up here. Major oil producing states are bracing the world for the biggest cut in oil production since the pandemic. The
+, controls more than 40% of global oil production. For years it has coordinated output policy in an attempt to ensure markets have sufficient supply at a price its members can live with. But events this year, including sanctions on Russia, and speculation about a looming global recession, have chipped away at its ability to influence the market. As recently as this summer, Western states were imploring Arab oil producers to raise output due to high oil prices, calls that were largely rebuffed.
and Middle East energy at S&P Global Commodity Insights, adding that there in consensus in
It's not a potential cut opaque decided this 6 weeks ago. They're going to cut production at the end of October to coincide with the midterm. 6 weeks ago CNN knew. Hilarious how they act surprised now and trying to create spin. Russia did it.
How will this effect my local California gas station price of 2.49 a gallon, not sure if I can afford much more..
In the 30 September a suicide bomber struck the kaaj higher education center in Dasht-e-Barchi, a predominantly Shia area of the afghan capital, while they were taking a test university, killing more 100 innocent lives and injuring a lot more. Be our Voice! StopHazaraGenocide
America gets there oil from Canada. LOL at opec. Can't raise are prices.
MahsaAmini
OPEC is doing its best to support Russia
All that celebration from the left and our emergency supply is now gone and prices will be sky high again. Thanks for voting blue you losers.