Oil prices set to rise after Opec+ group agrees to larger-than-expected production cut

South China Morning Post published this video item, entitled “Oil prices set to rise after Opec+ group agrees to larger-than-expected production cut” – below is their description.

Fuel may once again become more expensive after weeks of falling prices at the pumps following a decision by oil producing countries to slash production for the first time since the peak of the Covid-19 pandemic. Members of the Opec+ group said the September 5, 2022, decision to reduce supply is needed to bring about stability as oil prices fall amid slowing global demand because of inflation. Opec+ comprises Organisation of Petroleum Exporting Countries (Opec) members, along with other oil-producing nations including Russia which take part in Opec initiatives.

Support us:

https://subscribe.scmp.com

South China Morning Post YouTube Channel

Got a comment? Leave your thoughts in the comments section, below. Please note comments are moderated before publication.


About This Source - South China Morning Post

The South China Morning Post (SCMP), with its Sunday edition, the Sunday Morning Post, is a Hong Kong-based English-language newspaper founded in 1903. It is Hong Kong’s newspaper of record, owned by Alibaba Group.

Recent from South China Morning Post:

Ways to boost your luck in the year of the dragon 1

Ways to boost your luck in the Year of the Dragon

Pakistan retaliates with missile strikes into Iran, killing 9 after Tehran attack on Pakistan soil

Chinese EV maker BYD launches electric cars in Indonesia

In This Story: China

China is the third largest country in the world by area and the largest country in the world by population. Properly known as the People’s Republic of China, the political territory of the country includes Tibet and Hong Kong. The capital is Beijing.

7 Recent Items: China

Why The World Is Rushing Back To The Moon

How will the situation in the Red Sea evolve?

WEF founder: China plays responsible, responsive role in face of new global setting

WEF founder emphasizes crucial role of Davos meeting in addressing global challenges

Teams from China’s north, south meet in Harbin’s ice dragon boat race

WEF Founder highlights China’s remarkable economic momentum and will for progress

Where Are All the Chinese Tourists?

In This Story: COVID-19

Covid-19 is the official WHO name given to the novel coronavirus which broke out in late 2019 and began to spread in the early months of 2020.

Symptoms of coronavirus

The main symptoms of coronavirus are:

  • a persistent new cough (non productive, dry)
  • a high temperature (e.g. head feels warm to the touch)
  • shortness of breath (if this is abnormal for the individual, or increased)

Latest News about Covid-19

Below are stories from around the globe related to the 2020 outbreak of novel Coronavirus – since the WHO gave the Covid-19 naming. Most recent items are posted nearest the top.

5 Recent Items: COVID-19

Global National: Jan. 19, 2024 | Health data shows influenza, COVID-19 cases decreasing in Canada

Stock market today: Dow, S&P 500 hit record highs as tech stocks soar | January 19, 2024

Stock market today: Stocks climb with techs ready to roar | January 19, 2023

Dr Anthony Fauci ‘became part of the problem’ when it came to the spread of Covid misinformation

WEF summit: Canada warns of future supply shocks amid global instability

In This Story: Inflation

In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.

5 Recent Items: Inflation

Red Sea tension upsets Yemeni fishermen’s livelihood

Impact inflation, living costs have on birth rates and Canadians on parental leave

Davos 2024: Biggest Takeaways From the World Economic Forum

Fed rate cuts: Labor data will make ‘last mile less difficult’: Economist

Trump Back in White House? Lagarde Says ‘Let Me Have Some Coffee’

In This Story: Russia

Russia, or the Russian Federation, is a transcontinental country located in Eastern Europe and Northern Asia. It extends from the Baltic Sea in the west to the Pacific Ocean in the east, and from the Arctic Ocean in the north to the Black Sea and the Caspian Sea in the south.

Russia spans more than one-eighth of the Earth’s inhabited land area, stretching eleven time zones, and bordering 16 sovereign nations. Moscow is the country’s capital.

The Soviet Union was dissolved in 1991 and since 1993 Russia been governed as a federal semi-presidential republic. Russia is a major great power, with the world’s second-most powerful military, and the fourth-highest military expenditure. As a recognised nuclear-weapon state, the country possesses the world’s largest stockpile of nuclear weapons.

3 Recent Items: Russia

Why The World Is Rushing Back To The Moon

North Korea and the new Cold War | 60 Minutes Full Episodes

Why are Russians risking years in prison to protest? | DW News

Leave a Comment

We don't require your email address, or your name, for anyone to leave a comment. If you do add an email address, you may be notified if there are replies to your comment - we won't use it for any other purpose. Please make respectful comments, which add value, and avoid personal attacks on others. Links are not allowed in comments - 99% of spam comments, attempt to post links. Please describe where people may find additional information - for example "visit the UN website" or "search Google for..." rather than posting a link. Comments failing to adhere to these guidelines will not be published.