Reported 4 months ago
OPEC+ is in discussions to finalize an oil-output cut agreement that may involve extending approximately 2 million barrels per day of production cuts into the second half of the year, with the potential for some restrictions to continue into 2025. The group is aiming to address the surplus caused by increased US shale supplies and stabilize oil prices. Members like the United Arab Emirates and Kazakhstan are reviewing their production capacity levels, indicating the need for further decisions beyond 2024.
Source: YAHOO