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OPEC+ countries extend voluntary oil production cuts again
We are talking about 2 million 200 thousand barrels per day. The release is expected by the end of December.
OPEC+ countries have extended their oil production cuts by 2 million barrels per day until the end of December. Eight allies (Russia, Saudi Arabia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria and Oman) will continue this on a voluntary basis. Accordingly, OPEC said in its statement that it had decided to postpone the resumption of oil production for another month. Its words are quoted by TASS.
Initially, it was planned to start a phased restart of production in October, but OPEC+ decided to delay the resumption of production by two months from September to December.