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Fuel may once again become more expensive after weeks of falling prices at the pumps following a decision by oil producing countries to slash production for the first time since the peak of the Covid-19 pandemic. Members of the Opec+ group said the September 5, 2022, decision to reduce supply is needed to bring about stability as oil prices fall amid slowing global demand because of inflation. Opec+ comprises Organisation of Petroleum Exporting Countries (Opec) members, along with other oil-producing nations including Russia which take part in Opec initiatives.
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