Why did OPEC actually cut oil production? Jeffrey Snider @ Eurodollar University🛢️
Why did OPEC actually cut oil production? Jeffrey Snider @ Eurodollar University🛢️
Led by Saudi Arabia, OPEC announced a surprising round of substantial and "voluntary" production cuts to combat sagging (not surging) crude oil prices. In doing so, the group confirmed every negative suspicion (and so much data) surrounding the economy's chances for this year and into next.
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