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The Latest Breaking News from OPEC

Opec output cut: Petrol, diesel price freeze in India just gets longer

NEW DELHI: The record six-month-long freeze in petrol and diesel price revision in all likelihood will be extended after international oil prices rose on the announcement of deep production cuts by Opec+.

The Times of India

Liz Truss: this is what happens when governments pursue growth at all costs

When Chancellor Kwasi Kwarteng unveiled his mini-budget on September 23, he was making it clear that the government is prioritising economic growth over inflation – which was one reason the financial markets reacted so badly to his plan.

The Conversation

Biden pardons all federal offenses of simple marijuana possession – as it happened

President urges governors to do the same with state offenses: ‘No one should be in a local jail or state prison for that reason’

The Guardian - US

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Oil prices climb as world's biggest exporters agree to cut output

In Vienna, ministers from the 13-nation Organization of the Petroleum Exporting Countries (OPEC) and a group of 10 exporters led by Russia agreed to reduce production by 2 million barrels a day from November. The move pushed up global oil prices, but the Kremlin says production reduction is intended to…

Radio France Internationale

Drivers issued warning as petrol prices could rise again as oil supply slashed

Oil supplies are set to be cut by two million barrels per day and experts are warning drivers that they could see the knock-on effect at the petrol pumps as prices are expected to rise.

Glasgow Live

Drivers warned petrol prices could rise as oil supply slashed by 2m barrels a day

Drivers taking to the roads soon have been warned that they could see rise in petrol prices yet again - news which comes after it was confirmed oil production will be slashed by two million barrels per day.

Edinburgh Live

Why could petrol prices rise again soon? Everything drivers should know

Motorists are being warned that the price of petrol could climb again.

Daily Record

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First Thing: Biden administration angered by Opec+ oil output cut

Senior figures see decision as slight on US and sign that oil producers’ club is aligning with Russia. Plus, can brown noise help you concentrate?

The Guardian - UK

OPEC's October surprise: Gift to GOP

Who benefits from higher oil prices and a new spike in inflation? Mitch McConnell and Kevin McCarthy, for starters

Salon

Petrol prices ‘to rise again’ after oil exports cut by 2m barrels a day

Members of the OPEC decided to make their biggest cut in oil production since 2020

The Independent UK

Motorists warned that petrol prices are set to rise again

RAC says its a question of when, not if, prices increase

Wales Online

FTSE 100 Live: Oil price holds gains after OPEC move, Imperial Brands plans £1bn buyback

Brent crude futures remained near $93 today as traders evaluated OPEC’s controversial move to cut oil production by two million barrels a day from next month.

Evening Standard

Saudi Energy Minister Tackles Int’l Press Questions for an Hour

In a nearly-hour long conference, Saudi Energy Minister Prince Abdulaziz bin Salman, who also chairs the OPEC+ joint ministerial committee, tackled world-press inquiries about the future of oil market trends and outcomes of OPEC meetings with a sense of humor and joy. “Enjoy the sun…It’s going to be a sunny…

Asharq Al-Awsat

Asian stocks mixed on strong US hiring, OPEC oil output cuts

Asian stocks are mixed after strong U.S. hiring dampened hopes the Federal Reserve might ease off plans for interest rate hikes and the OPEC oil production cartel agreed to shore up prices by cutting output

The Independent UK

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Axios

Biden's new Saudi strategy

Biden sent a clear signal to the Saudis that he’s prepared to escalate after OPEC's production cut.

The Guardian - UK

Biden administration angered by Opec+ oil output cut

Senior figures see decision as a slight on the US and a sign that the oil producers club is aligning with Russia

ABC News

OPEC cuts oil production to drive up prices, ASX ends steady after volatile day

As the ASX finishes where it started, Saudi Arabia and Russia are on a collision course with the West after major producers cut oil production to drive up prices. The move could further increase energy prices, plunge the global economy into recession, and help Russia in its war in Ukraine.

The New Daily

Fuel price-rise warning as oil cartel agrees to significantly slash global production

A major oil cartel has announced the biggest cut in production in years which could push up fuel prices around the world while bolstering Russia's war in

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The Independent UK

White House blasts Opec saying it is ‘aligning with Russia’ after oil production cut announcement

Oil producers’ announcement could drive up costs at worst possible time for Democrats

Wales Online

Opec+ to raise oil prices as it cuts production by two million barrels a day

The cartel has decided to cut oil production by two million barrels a day. The decision was made to control prices which have fluctuated wildly due to the war in Ukraine.

Roll Call

OPEC production cuts add fuel to domestic energy debates - Roll Call

Lawmakers said OPEC's move to cut oil production underscores the need to break from fossil fuels, but they disagree on how.

Asharq Al-Awsat

OPEC+ Agrees Oil Output Cuts of 2 Mln Bpd

The OPEC+ alliance of oil-exporting countries decided Wednesday to sharply cut production to support sagging oil prices. Energy ministers cut production by 2 million barrels per day starting in November after gathering for their first face-to-face meeting at the Vienna headquarters of the OPEC oil cartel since the start of…

Tribune News Service

OPEC+ tries to keep oil above $90 with large production cut

OPEC+ agreed to cut its collective output limit by 2 million barrels day, stoking tensions with the U.S. as the cartel seeks to halt a slide in oil prices caused by the weakening global economy.

Reason

Rockets, Feathers, and Rising Gasoline Prices

Saudi Arabia snubs Biden by advocating OPEC cut oil production by 2 million barrels per day.

France 24

OPEC+ agrees to cut oil production to boost prices

The OPEC+ alliance of oil-exporting countries on Wednesday decided to sharply cut production to support sagging oil prices, a move that could deal the struggling global economy another blow and raise politically sensitive pump prices for U.S. drivers just ahead of key national elections.

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