2 million barrels per day is the biggest cut since the historic pact in May 2020

Ministers point to recession risks, deny political intent

Biden administration says decision is ‘short-sighted’

OPEC and its allies on October 5 slashed their production quotas by 2 million barrels a day for the next 14 months in a bid to stabilize falling oil prices, provoking a strong backlash from the US, which had warned the group about a potential bid avoid pushing and distancing yourself from…

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