BEAMSTART Logo

OPEC+ agrees deep oil production cuts, Biden calls it shortsighted

Channel News Asia LogoChannel News Asia4 mo ago

OPEC+ agrees deep oil production cuts, Biden calls it shortsighted - Channel News Asia

Quick Summary:

VIENNA/LONDON: OPEC+ agreed steep oil production cuts on Wednesday (Oct 5), curbing supply in an already tight market, causing one of its biggest clashes with the West as the US administration called the surprise decision shortsighted.

Wednesday's production cuts of 2 million bpd are based on existing baseline figures, which means the cuts would be less deep because OPEC+ fell about 3.6 million barrels per day short of its output target in August.

"The President is disappointed by the shortsighted decision by OPEC+ to cut production quotas while the global economy is dealing with the continued negative impact of (Russian President Vladimir) Putin’s invasion of Ukraine," the White House said.


More Pictures

OPEC+ agrees deep oil production cuts, Biden calls it shortsighted - Channel News Asia (Picture 1)OPEC+ agrees deep oil production cuts, Biden calls it shortsighted - Channel News Asia (Picture 2)

or

Article Details

Category: Economy

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-10-06 @ 03:16:12 (4 months ago)

News Timezone: GMT +8:00

Ranking: #2194 (out of 3259 stories this day)

News Source URL: channelnewsasia.com

Language: English

Article Length: 800 words

Reading Time: 5 minutes read

Sentences: 32 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 746434

View Article Analysis

About Channel News Asia

Channel News Asia Logo

Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

Update Frequency: 33 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 6 hours ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #27

Publisher Details

Frequently Asked Questions

How long will it take to read this news story?

The story "OPEC+ agrees deep oil production cuts, Biden calls it shortsighted" has 800 words across 32 sentences, which will take approximately 4 - 7 minutes for the average person to read.

Which news outlet covered this story?

The story "OPEC+ agrees deep oil production cuts, Biden calls it shortsighted" was covered 4 months ago by Channel News Asia, a news publisher based in Singapore.

How trustworthy is 'Channel News Asia' news outlet?

Channel News Asia is a fully independent (privately-owned) news outlet established in 1999 that covers mostly economy and business news.

The outlet is headquartered in Singapore and publishes an average of 33 news stories per day.

It's most recent story was published 6 hours ago.

What do people currently think of this news story?

The sentiment for this story is currently Positive, indicating that people regard this as "good news".

How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
  • News ID: #746434
  • URL: https://beamstart.com/news/opec-agrees-deep-oil-production-16649995762122

BEAMSTART brings you the latest news, database, and jobs from all around the world on startups, technology, and business. Stay updated with industry news, plug-in to exciting community events, and discover incredible career opportunities with the world's most innovative companies.

© Copyright 2023 BEAMSTART. All Rights Reserved.