Tag: cuts

  • OPEC+ looking at output cuts approaching two million barrels

    OPEC+ oil producers on Thursday agreed to voluntary output cuts approaching two million barrels per day (bpd) for early next year led by Saudi Arabia rolling over its current voluntary cut, delegates told Reuters. Saudi Arabia, Russia and other members of OPEC+, who pump more than 40 per cent of the world’s oil, held a virtual meeting on Thursday…

  • COP28 hosts back proposed additional Saudi oil cuts

    Saudi Arabia could cut oil production further thanks to the first stage of the OPEC+ group’s meeting this morning, supported by the UAE. The nation has won provisional backing for the move has made it contingent on other nations contributing to the cuts, measures that if not could jeopardise the agreement. The UAE, hosts of…

  • Hunt has raided the piggy-bank for his tax cuts. Will it work?

    As the dust settles on Jeremy Hunt’s Autumn Statement, it has become increasingly clear that the Chancellor has taken a big bet. Hunt has effectively banked the windfall from higher inflation, which has boosted tax receipts, without being completely honest about the spending cuts that the government will have to make after the next election.…