OPEC and Russia vote to slash oil output as they ignore Biden’s pleas

Posted on AllSides October 5th, 2022
From The Right
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The Biden administration’s scramble to avoid another surge in US gas prices took a major hit Wednesday after OPEC and Russia approved a significant cut in oil production.

Oil jumped to $87 on Wednesday after the OPEC+, a group of oil-producing nations that includes Russia, slashed output limits by 2 million barrels per day. The cut would mark the largest drop in OPEC+ oil production since 2020 and add additional pressure to global energy markets already reeling from the Russia-Ukraine conflict, Bloomberg reported.

The cuts were approved even after the Biden...

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