On Wednesday, OPEC+ — a group of oil-producing nations — announced plans to cut oil production by 2 million barrels a day starting in November. The plan — which member nations hope will see a spike in profits — has been greeted with anger by many non-member nations.
The decision comes at a time when energy costs are already increasing, thanks to the war in Ukraine and inflation. Elsewhere, Western nations express concern about the security of the Nord Stream pipeline and an investigation into the recent act of sabotage on the pipeline is ongoing.
Andreas Eriksen, Norway's State Secretary for Petroleum and Energy, joins Here & Now's Scott Tong to discuss the latest developments.
This segment aired on October 6, 2022.