_opec-extends-oil-production-cuts-raising-concerns-of-higher-global-prices-here39s-why-that-could-spell-bad-news-for-the.jpg "OPEC+ Extends Oil Production Cuts, Raising Concerns of Higher Global Prices. Here's Why That Could Spell Bad News for the Biden’s Re-election Chances from independence day photos Video Screenshot Preview")
GalleryPlay Video:
(Note: The default playback of the video is HD VERSION. If your browser is buffering the video slowly, please play the REGULAR MP4 VERSION or Open The Video below for better experience. Thank you!)
⏲ Duration: 0:38
👁 View: 14.3M times
✓ Published: 05-Jun-2024
👁 View: 14.3M times
✓ Published: 05-Jun-2024
Description:
OPEC+ agreed to extend existing oil production cuts of more than 3 million barrels per day through the end of 2025, as well as ongoing cuts of over 2 million barrels per day through September 2024. The cuts could raise global oil prices by prolonging supply restrictions at a time when demand concerns remain. Higher prices could negatively impact the US economy ahead of the 2024 elections. The Biden administration may be concerned about a potential spike in energy costs impacting voters. It has taken some actions to increase fuel supply and tamp down prices.
OPEC+ agreed to extend existing oil production cuts of more than 3 million barrels per day through the end of 2025, as well as ongoing cuts of over 2 million barrels per day through September 2024. The cuts could raise global oil prices by prolonging supply restrictions at a time when demand concerns remain. Higher prices could negatively impact the US economy ahead of the 2024 elections. The Biden administration may be concerned about a potential spike in energy costs impacting voters. It has taken some actions to increase fuel supply and tamp down prices.
Share with your friends:
Whatsapp | Viber | Telegram | Line | SMS
Email | Twitter | Reddit | Tumblr | Pinterest
Related Videos
_independence-day-history-124-the-fourth-of-july.webp "Learn English by Pocket Passport")
_wwe-superstar-celebrate-usa-independence-day-with-this-50-photos.webp "WWE Reality")
_5-things-to-do-next-week-10-16-june-2024.webp "Assistant editor Iain Lynn with his entertainments guide to five things to do next week in and around Lancashire")
_independence-day-migration-struggle-parade-tragedy-week-in-photos.webp "ABC News")
_met-office-morning-weather-forecast-0692-0692-24-showers-northwest-clearer-east.webp "A largely dry day for most of the UK. Cool and breezy northwestern areas, with showers and some thunderstorms here. – This is the Met Office UK Weather forecast for the morning of 06/06/24. Bringing you today’s weather forecast Annie Shuttleworth.")
_opec-extends-oil-production-cuts-raising-concerns-of-higher-global-prices-here39s-why-that-could-spell-bad-news-for-the.webp "OPEC+ agreed to extend existing oil production cuts of more than 3 million barrels per day through the end of 2025, as well as ongoing cuts of over 2 million barrels per day through September 2024. The cuts could raise global oil prices by prolonging supply restrictions at a time when demand concerns remain. Higher prices could negatively impact the US economy ahead of the 2024 elections. The Biden administration may be concerned about a potential spike in energy costs impacting voters. It has taken some actions to increase fuel supply and tamp down prices.")
_food-imposters-the-lies-we-eat.webp "Hey there, foodies! You won't believe how many foods we eat are total imposters. Take crab sticks, for example – they’re actually made from white fish and flavoring, not crab. And that \")
_national-fish-amp-chip-day-why-the-national-day-is-being-celebrated-earlier-due-to-its-d-day-connection.webp "This year marks the 80th anniversary of D-Day and so the national day, which usually falls on the more traditional Friday, is being moved to Thursday instead.")
⏲ 2:0 👁 40.2M
_independence-day-history-124-the-fourth-of-july.jpg)
_wwe-superstar-celebrate-usa-independence-day-with-this-50-photos.jpg)
_5-things-to-do-next-week-10-16-june-2024.jpg)
_independence-day-migration-struggle-parade-tragedy-week-in-photos.jpg)
_met-office-morning-weather-forecast-0692-0692-24-showers-northwest-clearer-east.jpg)
_food-imposters-the-lies-we-eat.jpg)
_national-fish-amp-chip-day-why-the-national-day-is-being-celebrated-earlier-due-to-its-d-day-connection.jpg)
![[+]](/images/menu.gif){kind=small}