OPEC+ announces surprise oil production cut that could lead to higher prices at pump
A group of OPEC+ member countries on Sunday announced voluntary oil production cuts that will run from May through the end of this year. The surprise move entails cuts of about 1.15 million barrels per day (BPD) and was led by Saudi Arabia, Iraq, United Arab Emirates and Kuwait. Saudi Arabia’s Ministry of Energy said in a statement the production cut is a precautionary measure aimed at supporting…Read more at foxbusiness.com: OPEC+ announces surprise oil production cut that could lead to higher prices at pump