Thursday, February 6, 2025
OPEC makes shocking oil production cut amidst new inflation risk- oil and gas 360

OPEC makes shocking oil production cut amidst new inflation risk

World Oil (Bloomberg) – OPEC+ announced a surprise oil production cut of more than 1MMbpd, abandoning previous assurances that it would hold supply steady and posing a new risk for the global economy. It’s a significant reduction for a market where — despite the recent price fluctuations — supply was looking tight for the latter part of the year. Oil