OPEC+ will cut oil production by 2 million barrels per day amid looming demand concerns and the ongoing friction between the West and Russia over the war in Ukraine.
The output cut, the largest since the start of the pandemic, appears to be about the global oil picture as well as politics, says one oil analyst.
“I think with OPEC you’re generally getting both,” Bob Iaccino, chief market strategist at Path Trading Partners, told Yahoo Finance Live.
“This does seem like a crack in the…
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