OPEC+ just made the Fed’s job more complicated. Here’s why they did it — and what could be next

• Several OPEC+ members on Sunday announced intentions to voluntarily cut a further combined 1.16 million barrels per day of production, in a move independent from the broader bloc’s output strategy.
• The reductions will challenge consumer governments, such as the U.S., which are already tackling high inflation and volatility in the banking sector.
• A formal meeting of an OPEC+ technical committee takes place Monday to review the group’s existing strategy. It cannot change policy.

https://www.cnbc.com/2023/04/03/oil-opec-just-made-the-feds-job-more-complicated-heres-what-they-did.html