Mon, 2022-09-05 10:45
RIYADH: Oil output by the Organization of the Petroleum Exporting Countries and its allies could be cut by 100,000 barrels per day following a meeting of the group on Monday, according to a source.
Reuters is reporting that the organization, known as OPEC+, is weighing up the move to bolster prices, despite supplies remaining tight.
OPEC+, which includes Russia, agreed to increase output by 648,000 bpd in both July and August, as they fully unwind nearly 10 million bpd of cuts implemented in May 2020 to counter the COVID-19 pandemic.
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