Oil Prices Jump As OPEC+ Considers 2 Million Bpd Production Cut

OPEC+ may be considering an even larger cut than previously reported—at up to 2 million bpd, anonymous delegates told media on Tuesday. As OPEC+ prepares to meet this Wednesday to discuss its oil production plans for November, it is assessing the state of the oil markets—and the current state of oil prices which began to fall in June near levels that some OPEC+ members could find unacceptable. Despite the growing worry of a severe global recession and the impact that would have on oil demand, the OPEC+ group feels that the markets are…