Submit a question to our community and get an answer from real people.
Submit

Why is OPEC cutting the supply of oil?

Report as
BlueOnBlack

Countries like Libya are producing less due to civil unrest disruptions. Many OPEC members have let their refineries fall into disrepair, too. Now they are having to shut them down temporarily to fix them.

Helpful Fun Thanks for voting Comments (0)
Report as
Add a comment...

Because production in the US has increased. They want supplies down hence the reduction.

Helpful Fun Thanks for voting Comments (1)
Report as
Yes. They aren't making as much money as they previously did, and they don't like that.
Report as
Add a comment...
Do you have an answer?
Answer this question...
Did you mean?
Login or Join the Community to answer
Popular Searches