A group of some of the world's most powerful oil producers on Wednesday agreed to impose deep output cuts, seeking to spur a recovery in crude prices despite calls from the U.S. to pump more to help the global economy.White House 'disappointed'The White House said in a statement that Biden was "disappointed by the shortsighted decision by OPEC+ to cut production quotas while the global economy is dealing with the continued negative impact of Putin's invasion of Ukraine."'Selfishly motivated'Energy analysts said the actual impact of the group's supply cuts for November was likely to be limited, with unilateral reductions by Saudi Arabia, the United Arab Emirates, Iraq and Kuwait likely to do the main job.Rohan Reddy, director of research at Global X ETFs, told CNBC that the group's decision to impose production cuts could see oil prices rally back to $100 a barrel — assuming no major bouts of Covid globally and the U.S. Federal Reserve not becoming unexpectedly hawkish."Due to the decision, volatility will likely return to the market, and despite concerns about the resilience of the global economy, the oil market is tight, all of which should serve as a tailwind for prices in the fourth quarter," Reddy said."