OPEC+ Extends Oil Production Cuts Through December 2024 to Ensure Market Stability
The OPEC Secretariat has announced that eight OPEC+ member countries—Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman—have agreed to extend voluntary production cuts of 2.2 million barrels per day (bpd) for an additional month, extending the reductions through December 2024. These adjustments, initially announced in...