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Cost of living: Fuel prices could rise again as oil-producing states ponder output cut

October 4, 2022

Via: Sky News
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There is a mounting risk that fuel prices could soon begin to rise again as major oil-producing countries ponder a big cut in output.

The Opec+ cartel, which includes Saudi Arabia and Russia among its main members, is expected by markets to reveal this week a collective target to reduce delivery by more than one million barrels per day.

The price of Brent Crude, which rose 4% on Monday in anticipation of such a cut, was up further during Tuesday’s trading – to just shy of $90 per barrel.

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