After more than two years, OPEC+ will meet for the first time on the 5th of October to start cutting oil output by more than 1 million barrels a day.
According to Bloomberg, oil prices are becoming higher, which causes more shock to the global economy, many visits had been organized to oil producers, to reduce oil revenues for Russia.
Banks such as UBS Group AG have expressed that OPEC+ and JPMorgan Chase & Co may resort to cutting at least 500,000 barrels, and as much as 1 million a day, respectively to stem the oil price slide.