OPEC+ announced that they are going to continue with their oil production cuts.
OPEC Announcements Today:
1. Saudi Arabia to extend 1 million barrels per day of production cuts through August
2. Russia to cut 500,000 barrels per day of production in August
3. UAE says OPEC+ wants supply and demand "balance" in oil markets
OPEC is not messing around.
— The Kobeissi Letter (@KobeissiLetter) July 3, 2023
This is going to cause more economic pain for the West whose leaders foolishly want to operate a modern economy using just solar panels and windmills.
