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‘Withdraw troops from Saudi & UAE': U.S lawmakers fume after OPEC+ oil cuts
Published on Oct 09, 2022 04:00 pm IST
Oil surged above $110 per barrel following Russia's February attack on Ukraine but has fallen back. The decision to support prices might help Moscow maintain income once Europe's decision to cut purchases of Russian crude as punishment takes effect in December. The OPEC grouping claims that its members collectively own about four-fifths of the world’s proven petroleum reserves, while they account for two-fifths of world oil production.
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