Watch out, inflation! OPEC announces oil production cutbacks!

AlwaysWrite

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Oil prices soared 7 percent on Sunday night after the group’s move to cut 1.2 million barrels a day.

Saudi Arabia, Russia and their oil-producing allies announced on Sunday that they would cut production by more than 1.2 million barrels of crude a day, or more than 1 percent of world supplies, in an apparent effort to increase prices.


 
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