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OPEC+ extends output cuts through April, in surprise move
Oil futures climbed sharply Friday, with prices looking to settle at their highest since 2019 and positioned to gain more than 7% for the week, a day after the Organization of the Petroleum Exporting Countries and its allies, in a surprise move, said they would rollover current production cuts to the end of April.
Saudi Arabia also extended its voluntary output cut of one million barrels per day, which was due to expire at the end of March, through the month of April, though Russia and Kazakhstan have been allowed a modest production boost for next month.
https://www.msn.com/en-us/money/markets/oil-futures-on-track-to-settle-at-highest-levels-since-2019-after-opec-decision/ar-BB1ehgVE?ocid=msedgdhp
Blaming Biden for rising gas prices is like blaming trump for the unemployment rate rising to 14% under his administration.
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