Oil jumps as OPEC and its allies announce a surprise output cut

Oil prices surged 8% after OPEC+’s surprise output cut. CNBC's Dan Murphy and Hadley Gamble report.

[markhunt]

OPEC+ is responding to all the US and EU threats of price caps. OPEC+ is saying, “Cap this!” It’s 100% push back.

[micamika]

Bravo OPEC+ you are right to do so, showing the West that you make the prices not the bully Usa!!!

[Peace-juus]

guess what, it is their oil, not ours...tough sh*t...

[sisabed]

Oil cut + de dollarization biden's nightmare😅

[YTSparty]

"They are doing what they are supposed to, make the market stable" - Can you elaborate on that?

[frankfisher]

Well, Biden tore up Trump's keystone pipe line. So guess we just are dependent on others.

[reddog]

Transfer of wealth from usa-eu to ukraine , 🇨🇳 China, Russia. Saudi Arabia

[AverageGuy]

Oil is priced in USD (petrodollar), USD is depreciating hence higher oil price. simple economic 101. US oil companies would not increase supply because that would drive down oil price. So who can you blame? What Americans need is to nationalize the oil industry once for all.

[spooooorts]

Not Surprise at all
Fed Hawkish = OPEC Hawkish
Fed Dovish = OPEC Dovish
High demand more output, Low demand less output
The issue is NATO can't figure this

[seankano]

Putin is making America great again, lol😮

[Bruce]

Stabilize my ass. Opec does nothing when oil prices surge

[lucapuzzoli]

Opec will defend certain levels Always

[menyahassan]

Looks like Russia is isolated on the world stage🙄

[TOPGNBR]

Leave Saudi Arabia and make amens with Venezuela and get out of middle east let Saudi Arabia protect them selfs

[davidlemay]

The motorcycle shops are laughing all the way to the bank and the car companies are just shit out of luck.

[noeldizon]

OPEC "axis of greed" money is thier god.

[Tonymike]

I'll let the millennium generation worry about it.Need them to go out there and work harder need to Have them pay more taxes seniors need them to work harder.

[barnabybones]

The Kingdom of Saudi Arabia needs more democracy. The US, Britain and Australia should help.

[MarcusAurelius]

Why tf is Hadley Gamble still in trash-hole Abu Dhabi and not NYC?! Come on CNBC...

[YTSparty]

I hope this spurs a huge buying spree of EVs. The cheap gas in the US has kept Americans in lousy low MPG vehicles.
I like this. Americans won't get off oil if they aren't forced to.