- The influential Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, on Sunday agreed to extend their official crude output cuts into 2025, also stretching two other sets of supply curbs over different periods.
- In a Google-translated statement carried by the state-owned Saudi Press Agency, a subset of the OPEC+ alliance, including kingpins Saudi Arabia and Russia, said they would extend a set of nearly 1.7 million barrels per day of voluntary cuts that were set to expire at the end of this year.
- This smaller group of OPEC+ member will also stretch another round of voluntary output cuts totalling 2.2 million barrels per day until the end of the third quarter of this year.
Oil alliance OPEC+ extends collective crude production cuts into 2025 (cnbc.com)
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