OPEC+, the oil cartel made up of most non-Western producers, is sharply cutting production to stabilize the price of crude oil, which has fallen significantly in recent months. From November onwards, the alliance of 23 countries will produce 2 million barrels (159 litres each) less per day, the group announced in Vienna on Wednesday. The price of crude has fallen by up to 30% on spot markets since June on concerns of a looming global economic recession. In a statement, OPEC+ justified its decision on the “uncertainty that surrounds the global economic and oil market outlooks.” Oil prices ralli…