US Treasury Secretary Yellen: OPEC+ oil production cut will add uncertainty to global growth outlook – by anilpanchal7 UnitedStates OPEC RiskAversion Inflation Banks
“A surprise OPEC+ oil production cut is an ‘unconstructive act’ that will add uncertainty to the global growthand to burdens on consumers at a time of high inflation,” US Treasury Secretary Janet Yellen on Monday per Reuters.
A reduction in gasoline prices from last year's peaks had helped limit inflation and it would be detrimental if the trend were reversed. I want to withhold judgment now on just what impact this will have on oil prices, although I know there's been some reaction today," she said of the OPEC+ move.
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