What OPEC+ cutting oil output could mean for U.S. gas prices
Written by Black Hot Fire Network on October 5, 2022
OPEC+ is jolting oil markets this week with expected plans to cut output — and the ripples could reach all the way to the U.S. midterm elections.
Driving the news: The coalition of OPEC, Russia and allied producers may announce cuts of 1-2 million barrels per day in Vienna later Wednesday, per news reports and analysts.
- It's looking to prop up prices that have fallen greatly since early June when Brent crude was above $120 per barrel — and has already succeeded despite bearish economic signs.
- Word . . .
