Salem Radio Network News Tuesday, March 5, 2024

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OPEC+ suppliers struggle to agree on oil production cuts even as prices fall

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( ) -q-30- UNDATED (Correspondent Jeremy House) “affect oil flows.”

The OPEC oil cartel led by Saudi Arabia and allied producers including Russia are trying to agree on cuts to the amount of crude they send to the world.

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TAG: Correspondent Jeremy House reporting. The members of OPEC+ are trying Thursday to come to a consensus on production cuts after postponing their meeting originally set for Sunday.

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VERBATIM: Prices have tumbled recently despite their efforts to prop them up. That’s been a good thing for U.S. drivers, who have been able to fill their gas tanks for less. But it’s bad news for the OPEC+ coalition countries whose oil income props up their economies. They have faced setbacks in keeping prices up despite initial fears that the Israel-Hamas war could affect oil flows.

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