_opec-extends-oil-production-cuts-raising-concerns-of-higher-global-prices-here39s-why-that-could-spell-bad-news-for-the.jpg "OPEC+ Extends Oil Production Cuts, Raising Concerns of Higher Global Prices. Here's Why That Could Spell Bad News for the Biden’s Re-election Chances from 3 hour msas Video Screenshot Preview")
GalleryPlay Video:
(Note: The default playback of the video is HD VERSION. If your browser is buffering the video slowly, please play the REGULAR MP4 VERSION or Open The Video below for better experience. Thank you!)
⏲ Duration: 0:38
👁 View: 14.3M times
✓ Published: 05-Jun-2024
👁 View: 14.3M times
✓ Published: 05-Jun-2024
Description:
OPEC+ agreed to extend existing oil production cuts of more than 3 million barrels per day through the end of 2025, as well as ongoing cuts of over 2 million barrels per day through September 2024. The cuts could raise global oil prices by prolonging supply restrictions at a time when demand concerns remain. Higher prices could negatively impact the US economy ahead of the 2024 elections. The Biden administration may be concerned about a potential spike in energy costs impacting voters. It has taken some actions to increase fuel supply and tamp down prices.
OPEC+ agreed to extend existing oil production cuts of more than 3 million barrels per day through the end of 2025, as well as ongoing cuts of over 2 million barrels per day through September 2024. The cuts could raise global oil prices by prolonging supply restrictions at a time when demand concerns remain. Higher prices could negatively impact the US economy ahead of the 2024 elections. The Biden administration may be concerned about a potential spike in energy costs impacting voters. It has taken some actions to increase fuel supply and tamp down prices.
Share with your friends:
Whatsapp | Viber | Telegram | Line | SMS
Email | Twitter | Reddit | Tumblr | Pinterest
_i39m-too-nice-i-gave-everything-to-my-sister.webp "MSA previously My Story Animated")
_my-friend-went-too-far-to-copy-me.webp "MSA previously My Story Animated")
_england-3-0-bosnia-dominic-scurr-reaction.webp "Dominic Scurr reflects on England's 3-0 win over Bosnia at St James' Park.")
_mom-knows-everything.webp "MSA previously My Story Animated")
_heavy-rainfall-warning-area-expanded-to-include-goulburn-to-sydney.webp "Parts of the Illawarra and NSW south coast had 180mm - over a month's rainfall - in the 12 hours to midday on June 6, 2024.")
_i-can-read-minds-but-only-of-boys.webp "MSA previously My Story Animated")
_i-accepted-a-challenge-it-changed-my-life.webp "MSA previously My Story Animated")
_love-island-s11-ep-3.webp "Love Island")
_i39m-too-nice-i-gave-everything-to-my-sister.jpg)
_my-friend-went-too-far-to-copy-me.jpg)
_england-3-0-bosnia-dominic-scurr-reaction.jpg)
_mom-knows-everything.jpg)
_heavy-rainfall-warning-area-expanded-to-include-goulburn-to-sydney.jpg)
_i-can-read-minds-but-only-of-boys.jpg)
_i-accepted-a-challenge-it-changed-my-life.jpg)
_love-island-s11-ep-3.jpg)
![[+]](/images/menu.gif){kind=small}