Austria: OPEC oil ministers reject accusations of causing "energy poverty" in West with production cut
VIENNA, Oct. 6 (Xinhua) -- Energy ministers of the Organization of the Petroleum Exporting Countries (OPEC) on Wednesday rejected accusations that they were "endangering the global energy market" and causing "energy poverty in the West" with their latest oil production cut.
OPEC and its allies, a group known as OPEC+, held its ministerial meeting on Wednesday and announced a major production cut of 2 million barrels per day (bpd) starting November as oil prices have recently tumbled over recession fears. The cut equals around 2 percent of this year's global oil demand.