Turkish fuel prices rise for 3 days after OPEC+ oil production cut decision

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Turkish fuel prices rise for 3 days after OPEC+ oil production cut decision

STORY: Turkish fuel prices rise for 3 days after OPEC+ oil production cut decision DATELINE: Oct. 8, 2022 LENGTH: 00:02:19 LOCATION: ISTANBUL, Türkiye CATEGORY: ECONOMY SHOTLIST: 1. various of Istanbul city, cars running on the highway 2. various of exchange office, bank and street views STORYLINE: Fuel prices in Türkiye have risen for three days in a row as of Friday, with the median prices of diesel oil in Turkish cities, for instance, now as high as 27.20 Turkish liras (1.46 U.S. dollars) per liter. The consecutive fuel hikes come hard on the heels of the decision made on Wednesday by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+, to slash its daily oil production by 2 million barrels beginning November, breaking the downward trend of oil prices in the past several months. "Announcement by OPEC+ to cut daily production down by 2 million barrels is apparently enough to make fuel prices go higher, even before the production is lowered," sa

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