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US weighs response to OPEC+ cuts

ABOARD Air Force One: The White House on Thursday (Friday in Manila) said 'all options' are being considered after the OPEC+ (Organization of the Petroleum Exporting Countries Plus) group's decision to cut oil production despite US arguments that this will raise fuel costs and endanger world economies.

President Joe Biden's administration is angry at ally Saudi Arabia for overseeing Wednesday's move by the OPEC cartel and an additional group of 10 exporters led by Russia to cut production by 2 million barrels a day in a bid to boost oil prices.

REDUCED OUTPUT Saudi Arabia’s Minister of Energy Abdulaziz bin Salman looks on during a press conference after the 45th Joint Ministerial Monitoring Committee and the 33rd OPEC and non-OPEC Ministerial Meeting in Vienna, Austria on Wednesday, Oct. 5, 2022 (October 6 in Manila). The OPEC oil cartel meets for the first time face-to-face since Covid curbs were introduced in 2020. AFP PHOTO