OPEC+ meeting may consider output cut this week: report – By Ken Martin (FOX Business) / Oct 2, 2022
Oil producers are considering reducing production due to fears that interest rate hikes will slow the global economy
OPEC+ is meeting this week to decide on production.
The group of oil producers will reportedly consider cutting output by more than 1 million barrels a day, delegates tell Bloomberg.
The meeting will take place on Wednesday in Vienna.
A production cut would reflect the concern that the global economy is slowing fast in the face of rapidly tightening monetary policy.
Oil prices have also been affected by the stronger dollar.
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