OPEC + to cut oil production by one million barrels per day | World Business Watch

In a surprise move the organization of the petroleum exporting countries OPEC+ has announced major cuts in production. The move has jolted the international market and sent oil prices soaring, this is the second time that the major oil producing countries have announced production Cuts in less than a year the company made the announcement on Sunday.

#opec #oilprice #wion

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[SouthernGirl]

Not that surprising after OBiden’s embarrassing visit to Saudi Arabia to beg for an increase in oil production.
Decreased right after that too.

[Dumka]

This is Biden greatest achievement after visiting Saudi.😂

[veronicagallo]

*That's what happens when buyers try to dictate the price to sellers.*

[dyqqwhb]

The 13 OPEC members are:

Algeria
Angola
Congo
Iran
Iraq
Kuwait
Libya
Nigeria
Saudi Arabia
United Arab Emirates (UAE)
Venezuela
Equatorial Guinea
Gabon
The 11 non-OPEC members are:

Azerbaijan
Bahrain
Brunei
Kazakhstan
Malaysia
Mexico
Oman
Russia
South Sudan
Sudan
Uzbekistan

[Dhrruvv]

Well done saudi and Putin, West needs to learn that no one takes them seriously 😂

[veronicagallo]

*I don't know why the US and the west are upset, I thought they wanted to go green 😂*

[percivalpercyluthuli]

Saudi Arabia are taking Russian& china side here

[sidhussain]

The consumers can thank US for its destructive policies of shutting out two big suppliers Venezuela and Iran out of the markets these are the consequences

[d_san]

Why is west panicking?
Don't they have green energy

[righteousbyfaithinChrist]

We're all tired of Opex oil terrorism...just helps propel us toward more green alternatives....

[christof]

The US and EU government could ultimately define the OPEC as an economic cartel. This would make it possible for every citizen to take legal actions against opec states.
This would end in the destroying of OPEC through confiscation of their assets.

[williamwilson]

If it is not happening until next month why has the price gone up now

[Chinoiserie]

Good luck to the Philippines, Myanmar, Cambodia, Laos and Singapore.

[ooikk]

Thumbs up for Opec+. Fir far too long the Opec nations have been punished by the US. The US policy is tow my line or else???? God knows. Gone are the days 😂😂😂

[MenelikWIns]

So the Americans decrease their domestic production and complain that OPEC+ is doing the same?

[Amazonkiller]

If people would come together and boycott oil by staying home from work until prices come down to an affordable level....this would stop! It would take all of us to do it though!

[stevep]

The petrodollar is going to be surpassed by the petroyuan.

[mssv]

All SCO countries not part of western sanctions program will get discounts. Those that follows western sanctions like Singapore, India to sanction Iran and Russia may get more expensive oils

[devondevon]

Oil prices surged by 8% as a result of this announcement.
Things will likely change, given that electric vehicles will soon account for a large share of automobiles, creating a glut of oil.

[tinyrick]

Of course. Keep prices high while the world struggles to pay the heating bill