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OPEC agrees to keep oil production cut, likely maintaining high prices through November election

Posted on AllSides June 3rd, 2024
From The Right
HAITHAM EL-TABEI/AFP via Getty Images / Getty Images

The Organization of the Petroleum Exporting Countries (OPEC+) on Sunday agreed to extend output cuts through next year, likely keeping prices high through the November presidential election. 

The alliance said after a meeting Sunday that the move was aimed at boosting slack prices that have lulled despite the ongoing war in Gaza and attacks on shipping vessels in the Red Sea.

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