U.S. Offical: OPEC+ Cut Came At “The Worst Possible Moment”

The OPEC+ group’s decision to reduce its crude oil production target by 2 million barrels per day (bpd) came at “the worst possible moment” and will have a wide-ranging impact on the economy and inflation, Barbara Leaf, Assistant Secretary of State for Near Eastern Affairs, said on Wednesday.  The OPEC+ move to reduce oil output comes just as the world was recovering from the COVID slump of 2020 and has to face the economic challenges of the Russian invasion of Ukraine, Leaf said during a visit to Kuwait, as quoted by Bloomberg.…