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OPEC

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Background

Business / Economics

Oil prices soar as producers unveil shock output cut

Oil prices soared Monday after top producers unveiled a shock output cut of more than a million barrels per day, while equities mostly rose after data showed US and European inflation eased further last month. However, the decision by the OPEC+ cartel fanned concerns about a fresh spike in prices that could put pressure on central banks to push interest rates higher. Both main crude contracts jumped around eight percent […]

todayApril 3, 2023

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