OPEC+ Extends Major Oil Production Cuts Through 2025 to Stabilize Global Market
03 Jun 2024
OPEC+ has announced an extension of its significant oil production cuts until 2025, aiming to stabilize the market amid sluggish demand growth, high interest rates, and rising U.S. oil production. The group will maintain its current reduction of 5.86 million barrels per day (bpd), with specific cuts being extended and...
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