Petrol prices ‘to rise again’ after oil exports cut by 2m barrels a day

Members of the OPEC decided to make their biggest cut in oil production since 2020

The RAC said the decision would “inevitably” lead to higher fuel prices (PA)

Motorists could face another rise in fuel prices due to a cut in oil exports, the RAC has warned.

Energy ministers meeting at the Vienna headquarters of the Organisation of the Petroleum Exporting Countries (OPEC+) made the decision to cut oil production by two million barrels per day starting in November.

This is the largest supply cut by the group - which includes Saudi Arabia and Russia - since 2020. Despite the group saying it wants to stabilise prices, the RAC said the decision would “inevitably” lead to higher fuel costs.