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France 24

Business

Charles PELLEGRIN

OPEC+ production cuts pile further pressure on global inflation

Elon Musk United States Oil Strategic Petroleum Reserve Twitter Inc. Petrol France Moscow Petroleum

BUSINESS DAILY © FRANCE 24

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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