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The Real Reason For Saudi Arabia’s Oil Production Cuts. Saudi Arabia and Russia extended oil production cuts first made in July, contrary to the belief it was to raise oil prices. The International Energy Agency (IEA) faces criticism for its forecasts, with claims it has shifted from forecasting to political advocacy. Despite rising sales of electric vehicles and alternative energy sources, global oil demand remains strong, challenging many predictions about the oil market’s future. Inflation has been challenging in the economy and has impacted the stock market and bond market. #inflation #oil #saudi #economy #debt #consumer
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