_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 sara johnson gdp 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
_today39s-headlines-west-philippine-sea-bamban-palestine-124-the-wrap-124-june-4-2024.webp "Here are today’s headlines – the latest news in the Philippines and around the world:<br/><br/>- AFP: Soldiers in Ayungin Shoal didn’t point gun at China Coast Guard<br/>- PNP relieves all 50 cops of Bamban police station<br/>- Eruption forces mandatory evacuations, business closures in Canlaon<br/>- UN experts urge all countries to recognize Palestinian statehood<br/>- Forever Angel: Petro Gazz star, PVL Finals MVP Janisa Johnson dies of cancer at 32<br/><br/><br/>https://www.rappler.com/video/daily-wrap/june-4-2024/")
_welcoming-remarks-amp-sara-johnson-presentation-124-2013-center-for-emerging-markets-symposium.webp "D'Amore-McKim School of Business")
⏲ 54 minutes 10 seconds 👁 62
_a-nextgen-economic-developer-tackles-transitioning-economies-sara-harris-executive-director-m.webp "Golden Shovel Agency")
A NextGen Economic Developer Tackles Transitioning Economies: Sara Harris, Executive Director • M...
⏲ 33 minutes 1 second
_forever-angel-petro-gazz-star-pvl-finals-mvp-janisa-johnson-dies-of-cancer-at-32.webp "Former PVL Finals MVP and Petro Gazz Angels star import Janisa Johnson dies at 32 after her battle with colon cancer.<br/><br/>Full story: https://www.rappler.com/sports/premier-league-finals-mvp-janisa-johnson-dies/")
_a-fed-rate-cut-39increasingly-looks-like-a-2025-event39-to-me-says-stifel39s-lindsey-piegza.webp "CNBC Television")
⏲ 9 minutes 18 seconds 👁 6.9K
_vp-duterte-thanks-supporters-vows-to-work-harder.webp "Vice President Sara Duterte on Monday, June 3, released a video message to thank her supporters for their birthday greetings, saying she continues to draw inspiration from them.<br/><br/>READ: https://mb.com.ph/2024/6/3/duterte-thanks-supporters-vows-to-work-harder-as-vp<br/><br/>Subscribe to the Manila Bulletin Online channel! - https://www.youtube.com/TheManilaBulletin<br/><br/>Visit our website at http://mb.com.ph<br/>Facebook: https://www.facebook.com/manilabulletin <br/>Twitter: https://www.twitter.com/manila_bulletin<br/>Instagram: https://instagram.com/manilabulletin<br/>Tiktok: https://www.tiktok.com/@manilabulletin<br/><br/>#ManilaBulletinOnline<br/>#ManilaBulletin")
_aku-bertunangan.webp "Sarah Johnson")
_kunst-nvidia39s-problem-is-their-competitors-are-catching-up-fast.webp "CNBC Television")
_today39s-headlines-west-philippine-sea-bamban-palestine-124-the-wrap-124-june-4-2024.jpg)
_welcoming-remarks-amp-sara-johnson-presentation-124-2013-center-for-emerging-markets-symposium.jpg)
_a-nextgen-economic-developer-tackles-transitioning-economies-sara-harris-executive-director-m.jpg)
_forever-angel-petro-gazz-star-pvl-finals-mvp-janisa-johnson-dies-of-cancer-at-32.jpg)
_a-fed-rate-cut-39increasingly-looks-like-a-2025-event39-to-me-says-stifel39s-lindsey-piegza.jpg)
_vp-duterte-thanks-supporters-vows-to-work-harder.jpg)
_aku-bertunangan.jpg)
_kunst-nvidia39s-problem-is-their-competitors-are-catching-up-fast.jpg)
![[+]](/images/menu.gif){kind=small}