Oil prices have fallen to roughly $80 from over $120 in early June amid growing fears about the prospect of a global economic recession.
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October surprise: OPEC+’s 2 million barrels-per-day oil production cut to boost prices. U.S. delivers an angry rebuke to the oil cartel and its allies, which include Russia. Oil rose Wednesday after the announcement but down Thursday. U.S. stock futures down Thursday as bond yields rise; one day after the S&P 500 broke a two-day winning streak.