OPEC+ oil supply cuts could tip world into recession, IEA says

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A decision by the OPEC+ oil producer group last week to rein in output has driven up prices and could push the global economy into recession, the International Energy Agency said on Wednesday.

"The relentless deterioration of the economy and higher prices sparked by an OPEC+ plan to cut supply are slowing world oil demand," the Paris-based agency, which includes the United States and other top consumer countries, said.