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The Latest Breaking News from OPEC

OPEC+ agrees to cut oil production to boost prices

The OPEC+ alliance of oil-exporting countries on Wednesday decided to sharply cut production to support sagging oil prices, a move that could deal the struggling global economy another blow and raise politically sensitive pump prices for U.S. drivers just ahead of key national elections.

France 24

OPEC+ cuts oil production by 2m barrels a day despite US pressure

US expresses disappointment in move that could spur an increase in oil prices, which had dropped in recent months.

Al Jazeera

Fears grow over oil price as Opec+ agrees to bigger than expected output cuts

Cartel curbs production by 2m barrels a day despite strong US pressure, further squeezing supplies

The Guardian - UK

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OPEC+ agrees major oil output cut

Vienna (AFP) - OPEC and its Russia-led allies agreed on a major cut in oil production on Wednesday, a move to prop up prices that could bolster sanction-hit Moscow's coffers and irk Washington.

AFP

Oil prices wobble awaiting OPEC output cut

London (AFP) - Oil prices wobbled Wednesday as investors waited to learn the amount of an expected major cut in output by OPEC and Russia-led allies.

AFP

OPEC+ eyes major oil output cut

Vienna (AFP) - Ministers from oil exporting countries were expected Wednesday to agree on major production cuts to prop up prices, a move that could irk the United States as economies struggle with energy-fuelled inflation.

AFP

What OPEC's 2 million-barrel cut could mean for U.S. gas prices

OPEC and Russia are looking to prop up prices that have fallen greatly since early June.

Axios

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Stock Market Today: Stocks Return to Red as Session Closes

Stocks climbed briefly into positive territory Wednesday before closing lower and putting an end to a two-day winning streak.

The Street

Stock Market Today: Stock Futures Down Following Two-Day Surge

Stock futures on down Wednesday following a two-day rally that had pulled Wall Street out of the September slump.

The Street

Oil prices rise awaiting OPEC output cut

London (AFP) - Oil prices rose Wednesday as OPEC and Russia-led allies prepare to announce a big cut in output.

AFP

OPEC+ agrees deep oil production cuts, Biden calls it shortsighted

OPEC+ agreed steep oil production cuts on Wednesday, curbing supply in an already tight market, causing one of its biggest clashes with the West as the U.S. administration called the surprise decision shortsighted.

Reuters

OPEC+ weighs large oil cutback to boost sagging prices

A cut in oil production is on the table when OPEC oil-producing countries meet Wednesday

The Independent UK

Asia markets extend rally on rate hopes, OPEC in focus

Hong Kong (AFP) - Asian investors joined their Wall Street counterparts in an equity buying spree Wednesday as more data pointing to weakness in the US economy further fanned hopes the Federal Reserve could temper its rate hike campaign.

AFP

Russia and Saudi Arabia agree to massive cuts to oil output. Here's why it matters

The 2 million bpd cut in oil production was backed by Saudi Arabia and could benefit Russia. The OPEC+ meeting took place as much of the world is battling soaring energy costs and rising inflation.

WEKU

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Evening Standard

FTSE 100 Live: Tesco profits fall, OPEC considers oil output cut

Tesco’s half-year profits have fallen 10% as the supermarket giant grapples with the impact of “significant” cost inflation.

The Guardian - UK

White House ‘disappointed’ as Opec+ cuts production by 2m barrels per day – business live

Oil cartel and allies including Russia make biggest cut in output since the start of the pandemic, despite pressure from the White House

The Independent UK

AP News Digest 3 am

Here are the AP’s latest coverage plans, top stories and promotable content. All times EDT. For up-to-the minute information on AP’s coverage, visit Coverage Plan at https://newsroom.ap.org.

Bangkok Post

Opec+ expected to slash oil output

VIENNA: Major oil producers led by Saudi Arabia and Russia were set to meet Wednesday as reports said they were mulling an output cut of up to 2 million barrels per day in a bid to prop up slumping prices.

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AFP

OPEC+ expected to slash oil output

Vienna (AFP) - Major oil producers led by Saudi Arabia and Russia were expected Wednesday to agree on a major cut in output to prop up prices despite Western concerns over energy-fuelled inflation.

AFP

Equities extend rally on rate hopes, traders await OPEC decision

Hong Kong (AFP) - Asian investors joined their Wall Street and European counterparts in an equity buying spree Wednesday as more data pointing to weakness in the US economy further fanned hopes the Federal Reserve could temper its rate hike campaign.

AFP

Stocks surge on hopes interest rate hikes will slow

New York (AFP) - Global stocks gained on Tuesday and the dollar slid amid growing hopes the Federal Reserve could ease its interest-rate hiking plans.

AFP

Stocks surge on interest rate hopes

London (AFP) - Global stocks rallied Tuesday and the dollar mostly slid as weak US data sparked hopes the Federal Reserve could ease its interest-rate hiking plans.

AFP

Markets surge on interest rate hopes

London (AFP) - Global stocks rallied Tuesday and the dollar dipped as weak US data sparked hopes the Federal Reserve could ease its interest-rate hiking plans.

AFP

Markets rally, dollar dips as US data tempers rate fears

Hong Kong (AFP) - Asian markets rallied Tuesday and the dollar eased after weak US factory data sparked optimism that a series of big interest rate hikes were taking their toll, allowing the Federal Reserve to ease its foot off the pedal.

AFP

Asian traders track Wall St up as US data tempers rate fears

Hong Kong (AFP) - Asian markets followed Wall Street higher Tuesday after weak US factory data sparked optimism that a series of big interest rate hikes were taking their toll, allowing the Federal Reserve to ease its foot off the pedal.

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