Several members of the OPEC+ alliance had in November voluntary supply cuts totaling 2.2 million-barrel-per-day cut for the first quarter of this year.
Saudi Arabia, de facto leader of the Organization for the Petroleum Exporting Countries, will extend its voluntary crude production cut of 1 million barrels per day until the end of the second quarter, the state-owned Saudi Press Agency said Sunday, citing a source from the country's Ministry of Energy.
Russia will trim its production and export supplies by a combined 471,000 barrels per day until the end of June, Russian Deputy Prime Minister Alexander Novak said OPEC+ refers to the coalition of the Organization for the Petroleum Exporting Countries and its allies, steered by Riyadh and Moscow. Russia will trim its production and export supplies by a combined 471,000 barrels per day until the end of June, Russian Deputy Prime Minister Alexander Novak said, according to a Google-translatedOPEC key producers Iraq and UAE will also prolong their voluntary production cuts of 220,000 barrels per day and 163,000 barrels per day, respectively, until the end of the second quarter, according to Google-translated updates from their state-owned news agenciesof collectively reducing their output...
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