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OPEC to Cut Oil Output by 4 Percent

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OPEC to Cut Oil Output by 4 Percent

Business

OPEC to Cut Oil Output by 4 Percent

OPEC to Cut Oil Output by 4 Percent

  • Download
  • <iframe src="https://www.npr.org/player/embed/1803881/1803882" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

OPEC oil ministers meeting in Vienna endorse a plan to cut production by 4 percent beginning Thursday. During a February meeting in Algiers, the cartel agreed to the reduction, amounting to 1 million barrels a day. Analysts say the drop in output could raise the cost of a barrel of oil beyond $40. Hear NPR's Bob Edwards and the BBC's Andrew Walker.