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Oil prices fall to lowest since January despite Saudi-backed production cut

The price decrease could be worrisome for Saudi Arabia and its investment plans.

Adam Lucente
Adam Lucente
Dec 8, 2022
A man walks past OPEC headquarters on the eve of the 45th Meeting of the Joint Ministerial Monitoring Committee and the 33rd OPEC and non-OPEC Ministerial Meeting held Oct. 5, 2022, in Vienna, Austria.
A man walks past OPEC headquarters on the eve of the 45th Meeting of the Joint Ministerial Monitoring Committee and the 33rd OPEC and non-OPEC Ministerial Meeting held Oct. 5, 2022, in Vienna, Austria. — Joe Klamar/AFP via Getty ImagesJo

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