OPEC+ agrees to cut output to prop up prices

By Agence France-Presse

Sep 07, 2022 12:18 am

VIENNA: The Organization of the Petroleum Exporting Countries (OPEC) and other major oil producers agreed on Monday to cut production for the first time in more than a year as it seeks to lift prices that have tumbled due to recession fears.

The move could irk the United States as it has pressed the group to increase output in order to bring down energy prices that have fueled decades-high inflation.

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