US EditionSaudi Arabia, 7 other OPEC+ nations extend voluntary supply cuts
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Saudi Arabia, 7 other OPEC+ nations extend voluntary supply cuts
RIYADH: Eight members of the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, agreed on Thursday to extend their voluntary supply cuts until the end of November, postponing a planned output increase amid falling crude prices. The eight OPEC+ nations are Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria and Oman. Their voluntary supply cuts of 2.2 million barrels per day will be extended “for two …
OPEC+ countries, which announced additional voluntary cuts in their crude oil production in April and November 2023, held a virtual meeting today, 4 September 2024, with the Kingdom of Saudi Arabia, the Russian Federation, the Republic of Iraq, the United Arab Emirates, the State of Kuwait, the Republic of Kazakhstan, the People’s Democratic Republic of Algeria, and the Sultanate of Oman. At the meeting, the eight member countries affirmed their…
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