Last Sunday Organization of the Petroleum Exporting Countries with Russia and other allies (OPEC+), announced that it will be slashing oil outputs by 1.16 million barrels per day. The production cut could result in a long-term rise in the price levels, which if it lasts, could give fuel to already high inflation, complicating decisions for the central banks. According to a WSJ article, many global oil and gas giants are expanding their investments in the energy infrastructure of North Africa on the backdrop of increased demand from the European nations.