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OPEC announces production cut in October

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Voltaire Network |

Meeting on 5 September in Vienna, the Organization of the Petroleum Exporting Countries (OPEC) announced that it would reduce its production by 100,000 barrels per day in October.dri

The move, driven by OPEC together with its associates (including Russia), comes as prices slumped in July and August due to a slowing global economy. It is therefore a question of balancing supply and demand.

However, the price of gas suddenly soared with the shutdown for maintenance of the Nord Stream gas pipeline. But, while both oil and gas are sources of energy, they are obviously not interchangeable.

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