OPEC+ output cut pains oil importers, Biden, anti-Russia bloc

  • OPEC+ cuts official output quota by 2mbpd from November, following through on last month's 100kbpd signal of intent

  • Pain of high oil price persists for net importers. And for US President Biden before Congressional mid-terms in November

  • Also a demonstration of challenge of the international anti-Russia alliance to corral others, eg Saudi (and India)
October 5th, 2022
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