Reported 22 days ago
OPEC announced on Sunday that it will extend its oil output cuts by one month until the end of December, postponing plans to gradually increase production. This decision, made ahead of the U.S. presidential election, follows a series of previous extensions that began with 2.2 million barrels a day in voluntary cuts. The group includes major oil-producing countries such as Saudi Arabia, Russia, and Iraq, and highlights concerns over weak global demand amidst geopolitical tensions.
Source: YAHOO