Saudi Arabia and Russia Extend Voluntary Oil Production Cuts
The cuts add to 1.66 million barrels per day of other voluntary crude output that some members of OPEC have put in place until the end of 2024.
The cuts add to 1.66 million barrels per day of other voluntary crude output that some members of OPEC have put in place until the end of 2024.
A surprise pledge to further cut crude oil outputs announced over the weekend brings the total volume of cuts by OPEC+ to 3.66 million bpd, or 3.7% of global demand.
The cut could drive oil and gas prices back up after weeks on a downward trend.
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