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Reuters
OPEC+ agrees deep oil production cuts, Biden calls it shortsighted
OPEC+ agreed steep oil production cuts on Wednesday, curbing supply in an already tight market, causing one of its biggest clashes with the West as the U.S. administration called the surprise decision shortsighted. OPEC’s de-facto leader Saudi Arabia said the cut of 2 million barrels per day (bpd) of output – equal to 2% of global supply – was necessary to respond to rising interest rates in the West and a weaker global economy. The kingdom rebuffed criticism it was colluding with Russia, which is included in the OPEC+ group, to drive prices higher and said the West was often driven by “wealth arrogance” when criticising the group.
NextShark
Mother inspires millions after being accepted to same prestigious university in China as her son
A Chinese mother who was admitted to the same prestigious university as her son has inspired netizens with her story, which went viral on social media. Chen Lan, a nurse of 29 years in eastern China, was admitted to the Zhejiang University as a PhD candidate a year after son was accepted into the institution, according to China Daily. Chen, who is in her late 40s, became an inspiration to many people in China who also wish to pursue their dreams despite their age.
Associated Press
Europe’s leaders gather in Prague but Russia isn’t invited
Leaders from around 44 countries are gathering Thursday to launch a “European Political Community” aimed at boosting security and economic prosperity across the continent, with Russia the one major European power not invited. The meeting in the Czech capital Prague is the brainchild of French President Emmanuel Macron and is backed by German Chancellor Olaf Scholz. It’s taking place amid the backdrop of Russia’s war on Ukraine, which began on Feb. 24, and as pressure builds to allow Ukraine to join the European Union.
Ukrayinska Pravda
Russia’s minions massively “evacuate” while Ukraine’s Armed Forces liberate territories
UKRAINSKA PRAVDA – THURSDAY, 6 OCTOBER 2022, 07:15 Russia’s henchmen have been running away as temporarily occupied territories are being liberated: three buses with supporters of occupiers have departed from Svatove to Novopskov in Luhansk Oblast; representatives of private security companies from occupied Crimea are going to return to the peninsula from Kherson Oblast.
Yahoo News
Trump is considered the GOP frontrunner in 2024. Will conservatives support him?
If he decides to run, former President Donald Trump is considered the frontrunner for the 2024 GOP nomination. But since he left the White House, conservative talkers and even longtime MAGA loyalists have been calling for someone more authentically conservative and less scandal-prone.
The Root
Wisconsin Conservative Group Is Trying To Stop Biden’s Student Loan Plan–And You Can Guess the Reason Why
The Root previously wrote about the efforts Republican legislatures are using to stop President Biden’s student loan forgiveness plan. However, a conservative legal group is mad about this plan for another reason. On behalf of the Brown County Taxpayers Association, the Wisconsin Institute for Law and Liberty filed a lawsuit on Tuesday claiming executive overreach. Biden’s plan violates federal law, they say, by intentionally seeking to narrow the racial wealth gap and help Black borrowers, acco
TheStreet.com
OPEC Production Cuts Could Have Major Political Fallout
President Biden has had to deal with a lot in the first two years of his presidency. Between the pandemic, inflation, and a war in Eastern Europe that has no signs of abating anytime soon, the President has had a lot on his plate. Arguably the biggest part of the meal he needs to get his hands on is gas prices, however, and this week he found out that the oil cartel OPEC+ won’t be lending him a helping hand anytime soon.
Reuters
Morgan Stanley sees tighter oil market ahead, ups Q1 forecasts
OPEC+, which groups members of the Organization of Petroleum Exporting Countries and allies including Russia, agreed to cut their output target by 2 million barrels per day (bpd) at a meeting in Vienna on Wednesday after spending most of the last two years adding back production slashed in 2020 when the COVID-19 pandemic hit. Morgan Stanley raised its first-quarter 2023 Brent price forecast to $100 per barrel from $95 per barrel, noting: “Brent will find its way to $100 per barrel quicker than we estimated before.”
Associated Press
Resident sues wood products company over California wildfire
A California man who lost his home in a wildfire last month has sued a wood products company at the center of the blaze, accusing it of failing to address the risk of a fire starting on its property. It eventually burned more than six square miles (15.5 square kilometers), destroyed 118 buildings and killed two people. California Department of Forestry and Fire Protection is still investigating the cause of the fire.
CNW Group
CAN Health Network Provides National Access to Verto’s Canadian-Made Digital Twin Technology
After a successful commercialization project funded by the Coordinated Accessible Network (CAN) Health Network, Unity Health Toronto is implementing technology from Toronto-based digital health company, Verto, to help manage ambulatory patient flow, streamline consent management, and transform patient experience across dozens of ambulatory clinics.
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