The Straits Times says
Opec+ output cuts spell more inflation
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The surprise production cuts announced by the oil cartel Opec+ last weekend have the potential to aggravate inflation and complicate the conduct of monetary policy, including in Singapore.
The expanded cartel, which now comprises 10 large non-Opec oil producers, including Russia, Mexico and Kazakhstan, in addition to the 13 members of Opec, controls about 40 per cent of the world’s crude oil.
