OPEC+ announces surprise cuts of around 1.16 mbpd from May to year-end
From channelnewsasia.com
Saudi Arabia and other OPEC+ oil producers on Sunday announced voluntary cuts to their production amounting to around 1.15 million barrels per day in a surprise move they said was aimed at supporting market stability. The group had been largely expected to stick to its already agreed 2 million bpd cuts when its ministerial panel, which includes Saudi Arabia and Russia, meets virtually on Monday. Last October, OPEC+, which comprises the Organization of Petroleum Exporting Countries (OPEC) and allies led by Russia, agreed output cuts of 2 million bpd from November until the end of the year, angering Washington as ...
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