OPEC Decides To Cut The Production And Supply Of Oil Amid Increasing Inflation Across World | English News

News coming in that on Wednesday, OPEC+ decided to drastically reduce oil production, reducing supply in an already constrained market and setting off one of its biggest conflicts with the West. The U.S. administration has criticized the unexpected decision as being shortsighted. Saudi Arabia, the de-facto leader of OPEC, stated that the output reduction of 2 million barrels per day (BPD), or 2% of the world's supply, was required in response to rising interest rates in the West and a deteriorating global economy. And OPEC+ decision might impact the prices of oil. Meanwhile, the US has sharply reacted against this. Tune in for more such updates and news only on mirror now. #englishnews #opec #oilproductionRead More