8 OPEC+ countries, including Saudi Arabia and Russia, extend voluntary oil cuts until Nov 2024.

Eight OPEC+ countries, including Saudi Arabia and Russia, have agreed to extend their voluntary oil output cuts of 2.2 million barrels per day until the end of November 2024, responding to declining prices and concerns about weak demand in China and the U.S. The phase-out of these cuts, initially set for October, will now begin in December 2024. The agreement allows for adjustments based on market conditions.

September 05, 2024
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