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OPEC+ Makes Surprise 1 Million-Barrel Oil Production Cut

OPEC+ has unexpectedly announced an oil production reduction of over 1 million barrels per day, limiting output from May. Saudi Arabia spearheaded the cartel’s efforts by committing to a 500,000-barrel reduction of its own production.

According to the Saudi Press Agency, a Ministry of Energy official stated the Kingdom of Saudi Arabia will “implement a voluntary cut of 500 thousand barrels per day from May till the end of 2023.” 

The cut will be in coordination with other OPEC and non-OPEC participating countries in the declaration of cooperation, the state-run media outlet continued. 

More…

UPDATE:

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Coming his week: energy inflation, more bad news from the financial/banking industry, the fall of Bakhmut and more disinformation from the illegal government.

David DeGerolamo

    
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Louis Jenkins
Louis Jenkins
1 year ago

Kuwait and Saudi Arabia couldn’t wait for GWB to handle Iraq and when the US had a stinking FJB for president, they broke it off in the US. We need energy independence FJB, not begging these Arab nations for oil. Jerks…all of you.

TakeAHardLook
TakeAHardLook
1 year ago

We were energy independent/net exporter of the World’s energy for four years; then El BungholeFJB was illegally inserted into the U.S. presidency & it all went away.
We need energy independence--and the people who invest billions in energy infrastructure (e.g., Keystone XL) need to be protected from the vagaries of politicians: when will we realize that morons like FJB cannot be allowed to turn off/on massive energy infrastructure for political reasons? D.C. needs to Butt the F OUT!
We have “545” Bungholes in D.C. deciding the fates of all 400,000,000 of us. That needs to end.

Tommyboy
Tommyboy
1 year ago
Reply to  TakeAHardLook

Spot on

Michael
Michael
1 year ago

David your last sentence:

“Coming his week: energy inflation, more bad news from the financial/banking industry, the fall of Bakhmut and more disinformation from the illegal government.”

Seems to have forgot MOAR DISTRACTIONS (like Trumps “indictment”)
to keep the sheeple and liberals from Noticing the slow-motion economic collapse of the former United States of America.

Michael
Michael
1 year ago
Reply to  DRenegade

In a gentle spirit:

Be vigilant and recognize the news are meant to distract us from what is important.

Fixed it for you and mass media news is never intended to tell you something important, just the current narrative.

Sometimes I wonder if it’s incompetence or pure malice that our Clown World Leadership is driving the clown car so fast over that cliff.

Fall of Rome, but with Wi-Fi!!

Praying for wisdom.

Michael
Michael
1 year ago
Reply to  DRenegade

Your site has become a daily read, so Thank You friend.

Suzanna
1 year ago

wow!