Cut in oil production by OPEC+ could mean higher gas prices across Hudson Valley

The decision by OPEC+ to make big cuts to oil production could spell trouble at the pump for drivers across the country and the Hudson Valley.
That's due to ministers from Organization of the Petroleum Exporting Countries, or OPEC+, saying they would cut oil production by two million barrels a day starting in November.
The announcement came Wednesday, and the move is expected to raise oil prices globally, which means get ready to pay more at the pump - again.
This is the biggest cut since the start of the pandemic. The group of major oil producers which includes Saudi Arabia and Russia released a statement saying the decision comes in light of the uncertainty that surrounds the global economic and oil market outlooks.
One AAA official News 12 spoke with says this move may not bring gas prices up all that much. "Global oil production on a daily basis is 100 million barrels so one million being taken off the market or two million is only 1 or 2%," says Robert Sinclair, of AAA.
A complicating issues comes as the U.S. is supposed to stop releasing barrels from our strategic petroleum reserve next month. The Biden administration made that move to try and help lower prices after record highs earlier this year and prices have come down.
But that move plus the OPEC+ production cuts could mean big problems at the pump.