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OPEC cuts production by nearly 800,000 barrels a day in January, pumping just above its oil target

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Saudi Arabia throttles back production during OPEC's first month of output cuts aimed at draining oversupply from the oil market.

 

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And the prices shall go up... As billionaires enjoy earning more money from the lower classes. Yay

These miserable need to go

can someone explain how this oil cartel is legal? every other price manipulation is illegal

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OPEC Pursues Formal Pact With RussiaSaudi Arabia and its Persian Gulf allies are proposing a formal partnership with a 10-nation group led by Russia to try to manage the global oil market, according to OPEC officials, in an alliance that would transform the cartel. Oddly the US is aligned with Iran on this.
Source: WSJ - 🏆 98. / 63 Read more »