OPEC+ agreed at an emergency ministerial meeting in Vienna to reduce collective oil production by 3 million barrels per day beginning next month — the largest coordinated supply cut since the pandemic-era reductions of 2020. Brent crude oil prices rose 6.2% in the immediate aftermath to $87.40 per barrel, the highest level in five months. Analysts project that US retail petrol prices could rise 25-35 cents per gallon over the following four to six weeks.
Finance
BREAKING
OPEC+ Agrees to Cut Oil Production by 3 Million Barrels Per Day
Carlos Vega
Jul 29, 2026, 2:36 AM
10,402 views
1 min read
AI Summary
OPEC+ agreed to cut oil production by 3 million barrels per day, the largest cut since 2020, sending crude oil prices up 6.2% to $87.40 per barrel.
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Comments (4)
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Good journalism. Rare these days. Thank you.
I'd like to see the primary sources for some of the figures cited in the third section. The methodology isn't entirely clear. Not saying the numbers are wrong, just that attribution matters.
The article would benefit from including voices from the communities most directly affected, rather than primarily quoting experts and officials. The people on the ground often have a different and equally valid perspective.
I was directly affected by this and the article captures the situation accurately. Reading this brought back a lot of difficult memories but I'm glad the story is being told.