OPEC+ production cuts pile further pressure on global inflation

The decision by the OPEC+ oil cartel to lower global production to 2 million barrels per day starting in November has prompted the US to dip into its Strategic Petroleum Reserve to dampen prices. An upcoming price cap on Russian oil could also add more inflationary pressure if Moscow decides to respond by cutting supply to participating countries. Also in this edition, we take a look at a petrol shortage in France and the tough negotiations between Elon Musk and Twitter to iron out a takeover deal.

Oct 6, 2022 - 12:55
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OPEC+ production cuts pile further pressure on global inflation
The decision by the OPEC+ oil cartel to lower global production to 2 million barrels per day starting in November has prompted the US to dip into its Strategic Petroleum Reserve to dampen prices. An upcoming price cap on Russian oil could also add more inflationary pressure if Moscow decides to respond by cutting supply to participating countries. Also in this edition, we take a look at a petrol shortage in France and the tough negotiations between Elon Musk and Twitter to iron out a takeover deal.
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