In recent days, OPEC+ — a group of oil exporting nations — announced plans to scale back oil production. This decision comes just days after acts of sabotage on the Nord Stream oil pipelines, which serve vast areas of Europe, and the ongoing energy crisis in Western Europe spurred by the war in Ukraine.
Put both instances together and a pattern emerges — a new realignment of the way in which gas is moving around the globe as suppliers shift in the market. What could this mean going forward?
Bob McNally is an expert on global energy markets and president of the consulting firm Rapidan Energy Group. He joins Here & Now's Miles Park to explain the changing energy markets.
This segment aired on October 7, 2022.