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

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