The Organization of the Petroleum Exporting Countries (OPEC) and its oil-exporting allies will weigh significant cuts to oil production in order to deal with falling fuel prices, according to a new report. According to the Wall Street Journal, the OPEC+ coalition may cut over 1 million barrels per day, in what would be the largest production reduction since the COVID-19 pandemic. The move would boost the price of oil and further strain Western consumers amid soaring inflation. Among the OPEC+ allies is Russia, which has been targeted by an onslaught of international sanctions since its invasion of Ukraine earlier this year, contributing to skyrocketing energy prices in the U.S. an
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