Petrol prices expected to rise after OPEC moves to dramatically slash oil exports | The World

ABC News (Australia) published this video item, entitled “Petrol prices expected to rise after OPEC moves to dramatically slash oil exports | The World” – below is their description.

Some of the world’s major oil producers have decided to cut the amount they export in a move that could see petrol prices around the world rise. The move by OPEC+ has inflamed diplomatic tensions with the US, which called the decision “short-sighted”, and accused Saudi Arabia of aligning with Russia.

ABC News (Australia) YouTube Channel

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About This Source - ABC News (Australia)

The video item below is from ABC News (Australia). ABC News is a public news service in Australia produced by the News and Current Affairs division of the Australian Broadcasting Corporation.

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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.

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In This Story: Saudi Arabia

Saudi Arabia, officially the Kingdom of Saudi Arabia, is a country in Western Asia constituting the bulk of the Arabian Peninsula.

Saudi Arabia also has one of the world’s youngest populations, with approximately 50 percent of its population of 34.2 million being under 25 years old.

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