Rumors Of The Demise Of OPEC’s Production Cuts Greatly Exaggerated
Oil prices bounced back Tuesday as members of the Organization of the Petroleum Exporting Countries (OPEC) and their allies disputed media reports that they are considering reversing their October decision to cut output. International benchmark Brent was under $90 a barrel on lingering concerns about the poor state of the global economy and weak demand for petroleum heading into 2023.
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