• <a fr-original-style="" href="https://www.reuters.com/business/energy/opec-weigh-rollover-or-small-cut-monday-meeting-sources-say-2022-09-04/" rel="noopener noreferrer" style="color: rgb(9, 9, 9); text-decoration: none; background-color: transparent; outline: none; cursor: pointer; transition: color 0.3s ease 0s; touch-action: manipulation; user-select: auto; box-sizing: border-box;" target="_blank">OPEC and its allies led by Russia</a> agreed to make a token oil production cut to stabilize prices that have declined on fears of an economic slowdown. OPEC+ will cut output by 100,000 barrels per day, amounting to only 0.1% of global demand, for October. They also agreed that OPEC's leader Saudi Arabia could call an extraordinary meeting anytime if volatility persists.&nbsp;<ul fr-original-style="padding-inline-start: 20px;" style="padding-inline-start: 20px; margin-top: 0px; margin-bottom: 1em; list-style-position: inside; box-sizing: border-box;"><li fr-original-style="" style="box-sizing: border-box;">What it means: "OPEC+ is wary of protracted price volatility generated by weak macro sentiment, thin liquidity and renewed China lockdowns, as well as uncertainty over a potential US-Iran deal and efforts to create a Russian oil price cap," said Matthew Holland at Energy Aspects.</li></ul>

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