OPEC+ Cuts Production

... in connection with the actual beginning of the presidential campaign. On the other hand, the rising cost of fuel spins up inflation, as the cost of delivery is built into the cost of goods. Western media also accuse the Arab nations of helping the Russian economy by these cuts in production. Such accusations expose the real problem. Western nations do not want to listen to explanations of OPEC+ member states as to why they decided to reduce oil production. Such a conflict of interests makes itself felt on a regular basis. A telling incident occurred on October 5, 2022, at an OPEC+ press conference after the decision to cut production quotas by 2 million bpd was announced. At the time, Saudi ...