Opec oil production cuts will not greatly affect US

Opec's decision to cut production is having little impact on an already declining oil price, according to Aberdeen Asset Management. Rupert Howard, North American fund manager with the group, believes the US economy will not be affected by Opec's decision to reduce output by a million barrels a day. He says the winter season in America saw the price of both oil and gas rise a great deal, which had a major impact on consumer spending. Now though, Howard says the seasonal slowdown in demand has brought the price back down to roughly where it was 12 months ago. Howard says Opec is ...