OPEC+ angers US over major oil production cut

Saudi Arabia, Russia and other major oil producers on Wednesday agreed on a major cut in production to jack the price of crude oil — a move condemned by the United States as a concession to Moscow that will further damage the global economy.

The cut in oil production could boost sanctions against Russia ahead of a European Union ban on most of its crude exports later this year and as the Group of Seven Rich Democracies impose a cap on oil prices of the country.

Originally published as OPEC+ angers US over major oil production cut

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