OPEC+ cuts oil output, gas prices soar: What's next for investors?

OPEC+ meeting: While analysts said the current output cut is insignificant to move the needle on oil prices, they cautioned that more output cuts may push oil prices higher, impacting India

The Oil and Gas sector is going through a perfect storm with investors likely eyeing a cold winter. On Monday, OPEC and its allies (OPEC+), led by Russia, agreed to cut output by 100,000 barrels per day (bpd) for October.

This will amount to 0.1 per cent of global demand, and is aimed at bolstering prices that have slid on fears of an economic slowdown. It effectively reverses an increase in supply by a similar amount last month.

While analysts said the current output cut is insignificant to move the needle on oil prices, they cautioned that more output cuts