OPEC+ Cuts Production Despite Resistance From Russia

The OPEC+ meeting on Monday endorsed a decision to cut the collective oil production target by 100,000 barrels per day (bpd) for October, despite Russia reportedly resisting such a move.  In another super-short meeting today, the energy ministers of the OPEC+ production pact agreed to return the targeted production levels to the August quotas, saying that last month’s increase was intended only for September.  Ahead of the meeting, the Wall Street Journal reported, citing unnamed sources close to the cartel, that Russia would not…