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Some OPEC+ members will cut oil exports to try to boost prices

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( ) -q-19- UNDATED (Correspondent Jeremy House) “in global supply.”

The OPEC oil cartel and allied producers have made another big swipe at propping up lagging crude prices.

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TAG: Correspondent Jeremy House reporting. Sweeping cutbacks from OPEC+ and individual member countries since October 2022 haven’t made lasting changes to oil prices because of concerns about oversupply in a weakening global economy. That’s a good thing for U.S. drivers who have been getting cheaper gas.

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VERBATIM: The OPEC+ oil ministers came out of an online meeting with more than 2 million barrels per day in voluntary cuts through the first three months of next year. They also declared that Brazil will join the bloc in January. The move brings one of the world’s fastest-growing oil producers into an alliance that is trying to rein in global supply.

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