Play Live Radio
Next Up:
Available On Air Stations

OPEC To Decide Whether To Cut Production

Only three months ago, oil was at an all-time high of nearly $150 a barrel. But the slowdown in the global economy and the resulting drop in demand have pushed prices down by nearly half. Now oil is trading below $72 a barrel.

It's a relief for oil consumers, but it's painful for oil-producing nations. Some Middle Eastern countries could find themselves in a financial bind if oil prices fall too low.

Ministers from the the Organization of Petroleum Exporting Countries are holding an emergency meeting this week to discuss slashing output in the hopes that less oil on world markets will boost prices.

Copyright 2022 NPR. To see more, visit

What questions do you have about the Statewide General Election coming up on Nov. 8? Submit your questions here, and we'll try to answer them in our reporting.