OPEC+ JMMC recommends cutting output by 100k bpd as OPEC+ meeting starts - report<p>Once OPEC+ countries got a taste of that $100 oil they liked it.</p><p>This 100k bpd cut is a token move in a 100mbpd global market but it's an important signal that OPEC+ won't tolerate falling prices. It also reverses the 100k bpd cut from last month.</p><p>In any case, OPEC is missing its output targets by a wide margin.</p><p>WTI is up $3 to the highs of the day.</p>
This article was written by Adam Button at www.forexlive.com.
Source: OPEC+ JMMC recommends cutting output by 100k bpd as OPEC+ meeting starts - report (https://www.forexlive.com/news/opec-jmmc-recommends-cutting-output-by-100k-bpd-as-opec-meeting-starts-report-20220905/https://www.forexlive.com/news/opec-jmmc-recommends-cutting-output-by-100k-bpd-as-opec-meeting-starts-report-20220905/)
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