Saudi Arabia, Six Other OPEC+ Members Announce Surprise New Oil Production Cuts


oil pump petroleum gas(Worthy News) – Saudi Arabia and half a dozen other members of OPEC+ announced on Sunday that they plan to cut up to a combined 1.15 million barrels of oil a day from May until the end of 2023, calling the decision a “precautionary measure” aimed at ensuring market stability.

The unexpected move comes six months after a decision to cut production by two million barrels a day, also through the end of 2023, sparked a serious diplomatic spat between the Biden administration and the kingdom.

The seven producers each issued separate but evidently orchestrated announcements about their “voluntary” reduction plans. Iraq by 211,000, the United Arab Emirates by 144,000, Kuwait by 128,000, Algeria by 48,000 and Oman by 40,000 barrels a day. [ Source: CNS News (Read More…) ]

10
people are currently praying.

Worthy News reports from a biblical worldview with a commitment to accuracy, transparency, and editorial independence. Learn more about About Worthy News, our Editorial Standards, AI Use Policy, Ownership of Worthy News, News Tips and Corrections, and Worthy News Staff.

💡 Did you know? One of the best ways you can support Worthy News is by simply leaving a comment and sharing this article.

📢 Social media algorithms push content further when there’s more engagement — so every 👍 like, 💬 comment, and 🔄 share helps more people discover the truth. 🙌

Discuss this article in our forums

Latest Worthy News

High Court Freezes Law Shielding Haredi Draft Evaders From Arrest
Supreme Court Justices Warn Threats Are Closing In, Seek Major Security Increase
Senate Democrats Block $1.15 Trillion Defense Bill Amid Iran War Dispute
GOP Leaders Launch ‘Reconciliation 3.0’ After Secret Camp David Strategy Meeting
Hope Fades For Missing After Alcatraz Boat Disaster (Worthy News In-Depth) (VIDEO)
IDF Kills Hamas Terrorist Linked to Abduction of Israeli Commander’s Body
U.S. Launches Daytime Strike Wave Against Iranian Military Targets
U.S. Announces End To Military Operations In Iraq As Conflict In Iran Ramps Up
Senate Records: Jack Smith Team Bypassed Safeguards, Accessed Texts Involving 44 Members of Congress
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.

Worthy Christian News