OPEC+ Slashes Oil Output Further to Boost Flagging Prices
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OPEC+ Slashes Oil Output Further to Boost Flagging Prices
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Description
Saudi Arabia, Russia and other major oil-producing nations announced they would further slash production next year in an effort to prop up volatile prices. Following the virtual meeting of OPEC+...
show moreFollowing the virtual meeting of OPEC+ ministers, Riyadh announced it would extend its voluntary oil production cut of one million barrels per day until March 2024.
Moscow says it would slash oil exports by 500,000 barrels a day up from 300,000 barrels a day so far until March, following the tough talks.
Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman will also make smaller cuts, OPEC said in a statement.
Information
Author | Africa Business Radio |
Organization | Africa Business Radio |
Website | - |
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