Andy Field ABC News - April 3, 2023 - KRDO’s Afternoon News

Oil prices were up sharply today after Saudi Arabia and other OPEC+ producers announced unexpected production cuts, and gains in energy shares helped to limit declines in some world stock indexes. In a surprise move, the OPEC+ group on Sunday announced cuts to production amounting to about 1.16 million barrels per day. The new cuts could push oil prices towards $100 a barrel, analysts and traders said.  White House spokesman John Kirby said the U.S. was provided advanced noticed that OPEC+ would cut oil production, although he declined to say whether the U.S. had privately lobbied OPEC+ members to refrain from moving forward.  Kirby criticized the move.  “We don't think that production cuts are advisable at this moment, given market uncertainty, and we’ve made that clear,” he said.