IEA Chief: OPEC+ May Have To Rethink Its Decision To Cut Oil Production

The OPEC+ group may have to “rethink” its decision to slash their collective oil production target by 2 million barrels per day (bpd) from November as it further stokes inflation and worsens the economic outlook for oil-importing developing nations, Fatih Birol, the Executive Director of the International Energy Agency (IEA), told Bloomberg on Wednesday. “The recent decision of OPEC+ to cut the production by 2 million barrels a day was definitely not helpful,” Birol said, commenting on the global economic prospects.  …