OPEC to cut production

 AP:

OPEC and allied oil-producing countries, including Russia, made a small trim in their supplies to the global economy Monday, underlining their unhappiness as recession fears help drive down crude prices — along with the cost of gasoline, to drivers’ delight.

The decision for October rolls back a mostly symbolic increase of 100,000 barrels per day in September. It follows a statement last month from Saudi Arabia’s energy minister that the OPEC+ coalition could reduce output at any time.

Oil producers such as Saudi Arabia have resisted calls from U.S. President Joe Biden to pump more oil to lower gasoline prices and the burden on consumers. OPEC+ has stuck with only cautious increases to make up for deep cuts made during the COVID-19 pandemic, which were finally restored in August.
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Biden's idiotic energy policies are largely responsible for giving back to OPEC the ability to manipulate the price of oil.  They lost that power during the Trump administration and only got it back when Biden came in and started limiting US production.  He is still blocking some offshore production as well as production in Alaska. 

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