Oil producers led by Saudis face a decision on whether to extend production cuts as oil prices lag
- Saudi Arabia and allied oil-producing countries must decide on extending production cuts that expire soon, including a smaller group, to support prices. Analysts anticipate an extension of the cuts.
- A smaller group of eight, including the Saudis, previously reduced 2.2 million barrels daily to bolster prices. The decision on extending this cut is imminent.
- Reasons for oil price struggles involve increased non-OPEC production, higher interest rates, and demand concerns due to slower economic growth.
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Leaning Left5Leaning Right3Center10Last UpdatedBias Distribution56% Center