_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 www and nancy 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
_true-heiress-92.webp "A wealthy heiress goes undercover as an intern at her family's company, only to discover her former high school bully is impersonating her and mistreating employees. She must expose the impostor's deceit and reclaim her rightful position.<br/>")
_critrium-du-dauphin-2024-highlights-of-stage-8.webp "Relive the best moments of Stage 8 - Thônes / Plateau des Glières, where RODRIGUEZ Carlos won in front of JORGENSON Matteo and GEE Derek!<br/> <br/>General ranking after today's stage: <br/>1 - ROGLIC Primoz <br/>2 - JORGENSON Matteo <br/>3 - GEE Derek <br/> <br/>More Information on: <br/> <br/>www.criterium-du-dauphine.fr <br/>www.facebook.com/CriteriumDuDauphine <br/>www.twitter.com/dauphine <br/>www.instagram.com/criteriumdudauphine <br/> <br/>© Amaury Sport Organisation - www.aso.fr")
_heather-mills-calls-on-antonio-guterres-to-talk-about-the-impact-of-meat-and-dairy-on-the-planet.webp "Heather Mills sparks protest inside the Bonn Climate Convention dining hall, telling people “If you care about the planet, eat vegan for your lunch”<br/>")
⏲ 0:6 👁 36.8M
_easterlies-patuloy-na-umiiral-sa-ilang-bahagi-ng-bansa-124-gma-integrated-news-bulletin.webp "#GMAIntegratedNews #KapusoStream<br/><br/><br/>Breaking news and stories from the Philippines and abroad:<br/>GMA Integrated News Portal: http://www.gmanews.tv<br/>Facebook: http://www.facebook.com/gmanews<br/>TikTok: https://www.tiktok.com/@gmanews<br/>Twitter: http://www.twitter.com/gmanews<br/>Instagram: http://www.instagram.com/gmanews<br/><br/><br/>GMA Network Kapuso programs on GMA Pinoy TV: https://gmapinoytv.com/subscribe")
_nw-friday-bulletin-june-7-2024.webp "Digital reporter Sian Jones with the latest North-West headlines")
_met-office-morning-weather-forecast-0892-0692-24-more-sunshine-and-showers-on-the-way.webp "Showers continue across western Scotland with some showery rain will move south eastwards across Wales, central and southern England through the morning. As it clears away to the south, it will become largely dry across most areas of England, Wales and Northern Ireland. – This is the Met Office UK Weather forecast for the morning of 08/06/24. Bringing you today’s weather forecast is Alex Burkill.")
_battle-through-the-heavens-season-5-episode-100-multi-sub.webp "Available Subtitles:<br/>Arabic | English | French | Hindi | Indo | Malay | Portuguese | Thai | Turkish | Vietnamese <br/><br/>Follow us @jhdanime on all platforms for latest episodes. <br/><br/>Thanks for faithfully watching on this channel and https://jhdanime.live")
_travis-kelces-close-friend-says-the-nfl-star-and-taylor-swift-will-39hopefully-soon39-be-getting-married.webp "Opening up about the couple’s future, one of Travis Kelce’s closest friends says the NFL star and Taylor Swift will “hopefully soon” be getting married.")
⏲ 1:20 👁 497.5M
_true-heiress-92.jpg)
_critrium-du-dauphin-2024-highlights-of-stage-8.jpg)
_heather-mills-calls-on-antonio-guterres-to-talk-about-the-impact-of-meat-and-dairy-on-the-planet.jpg)
_easterlies-patuloy-na-umiiral-sa-ilang-bahagi-ng-bansa-124-gma-integrated-news-bulletin.jpg)
_nw-friday-bulletin-june-7-2024.jpg)
_met-office-morning-weather-forecast-0892-0692-24-more-sunshine-and-showers-on-the-way.jpg)
_battle-through-the-heavens-season-5-episode-100-multi-sub.jpg)
_travis-kelces-close-friend-says-the-nfl-star-and-taylor-swift-will-39hopefully-soon39-be-getting-married.jpg)
![[+]](/images/menu.gif){kind=small}