BREAKING: OPEC and allied oil-producing countries, including Russia, have cut their supplies to the global economy by 100,000 barrels per day. OPEC oilandgas kprc2
FILE - The sun sets behind an idle pump jack near Karnes City, USA, April 8, 2020. Oil prices are sagging amid fears of recessions across the globe. OPEC and allied countries are weighing what to do about that when they meet online Thursday, Sept. 8, 2022. High oil prices were a bonanza for countries like Saudi Arabia over the summer, but now they're well off those highs. Saudi Arabia's oil minister has even said the group known as OPEC+ could cut production at any time.
Oil producers such as Saudi Arabia have resisted calls from U.S. President Joe Biden to pump more oil to lower gasoline prices and the burden on consumers.
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