_opec-extends-oil-production-cuts-raising-concerns-of-higher-global-prices-here39s-why-that-could-spell-bad-news-for-the.jpg "OPEC+ Extends Oil Production Cuts, Raising Concerns of Higher Global Prices. Here's Why That Could Spell Bad News for the Biden’s Re-election Chances from cibc business account rates Video Screenshot Preview")
GalleryPlay Video:
(Note: The default playback of the video is HD VERSION. If your browser is buffering the video slowly, please play the REGULAR MP4 VERSION or Open The Video below for better experience. Thank you!)
⏲ Duration: 0:38
👁 View: 14.3M times
✓ Published: 05-Jun-2024
👁 View: 14.3M times
✓ Published: 05-Jun-2024
Description:
OPEC+ agreed to extend existing oil production cuts of more than 3 million barrels per day through the end of 2025, as well as ongoing cuts of over 2 million barrels per day through September 2024. The cuts could raise global oil prices by prolonging supply restrictions at a time when demand concerns remain. Higher prices could negatively impact the US economy ahead of the 2024 elections. The Biden administration may be concerned about a potential spike in energy costs impacting voters. It has taken some actions to increase fuel supply and tamp down prices.
OPEC+ agreed to extend existing oil production cuts of more than 3 million barrels per day through the end of 2025, as well as ongoing cuts of over 2 million barrels per day through September 2024. The cuts could raise global oil prices by prolonging supply restrictions at a time when demand concerns remain. Higher prices could negatively impact the US economy ahead of the 2024 elections. The Biden administration may be concerned about a potential spike in energy costs impacting voters. It has taken some actions to increase fuel supply and tamp down prices.
Share with your friends:
Whatsapp | Viber | Telegram | Line | SMS
Email | Twitter | Reddit | Tumblr | Pinterest
Related Videos
_cibc-smart-account-review-pros-and-cons.webp "FULL FINANCE REVIEW")
_8-safest-banks-to-bank-with-in-the-us-banks-to-keep-your-money-in-during-a-financial-crisis.webp "Diamond NestEgg")
⏲ 17 minutes 19 seconds 👁 412.4K
_selecting-the-right-plan-124-ez-texting.webp "EZ Texting offers a wide variety of pricing options. Our monthly and annual plans allow you to save based on your monthly/yearly sending commitments. Each monthly plan also includes at least 1 Custom Keyword at no additional cost. For the best in savings and flexibility, choose an annual plan and save 20%. With many plans and credit options to choose from, EZ Texting has the right option for you!nnEZ Texting is a SaaS company that delivers the fastest, easiest, and most reliable way to connect.")
_gta5.webp "陈律和夏老")
_job-market-booms-in-may-payrolls-surge-more-than-expected-wages-increase.webp "Nonfarm payrolls increase by 272,000 in May, significantly exceeding the 180,000 forecast. Average hourly earnings increased by 4.1%, surpassing expectations of a 3.9% rise.")
_scotiabank-failed-its-shareholders-cdn-banks-quarterly-review.webp "Dividend Guy")
_how-to-get-business-line-of-credit-with-no-revenue.webp "Noelle Randall")
_naked-ambition-uncut-2003.webp "Naked Ambition Chan Hing-ka \")
_cibc-smart-account-review-pros-and-cons.jpg)
_8-safest-banks-to-bank-with-in-the-us-banks-to-keep-your-money-in-during-a-financial-crisis.jpg)
_selecting-the-right-plan-124-ez-texting.jpg)
_gta5.jpg)
_job-market-booms-in-may-payrolls-surge-more-than-expected-wages-increase.jpg)
_scotiabank-failed-its-shareholders-cdn-banks-quarterly-review.jpg)
_how-to-get-business-line-of-credit-with-no-revenue.jpg)
_naked-ambition-uncut-2003.jpg)
![[+]](/images/menu.gif){kind=small}