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Radio France Internationale
Radio France Internationale
RFI

Oil prices soar after Opec+ announces surprise production cuts

OPEC Oil Nigel Green Saudi Arabia The United States
An OPEC flag is seen on the day of OPEC+ meeting in Vienna in Vienna, Austria October 5, 2022. REUTERS - LISA LEUTNER

World oil prices soared Monday after several top producers led by Saudi Arabia sprang surprise output cuts despite already angering the United States with a similar move last year.

Crude futures surged almost eight percent at one stage, a day after multiple members of the OPEC+ exporters' alliance unexpectedly slashed production by a total of more than one million barrels per day.

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