Why is OPEC+ cutting oil production?
The OPEC+ alliance of oil-exporting countries has announced reducing oil production by 2 million barrels per day, one of its largest supply cuts since the coronavirus pandemic. The decision comes at a time when many countries are grappling with soaring energy prices-fuelled inflation.
So what is behind the new decision of OPEC+ to reduce oil production, and what could that mean for consumers?
In this episode:
Nikolay Kozhanov (@KozhanovNikolay), Research Associate Professor at Qatar University
