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OPEC+ begins meetings that may agree further output cuts - sources
OPEC and its allies began two days of meetings on Saturday that may culminate in further production cuts of as much as 1 million barrels per day, OPEC+ sources told Reuters, as the group faces flagging oil prices and a looming supply glut. OPEC+, which groups the Organization of the Petroleum Exporting Countries and allies led by Russia, pumps around 40% of the world's crude, meaning its policy decisions can have a major impact on oil prices. Three OPEC+ sources told Reuters on Friday that cuts were being discussed among options for Sunday's session, when OPEC+ ministers gather at 2 p.m. (1200 GMT) in Vienna. OPEC ... (full story)
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- Posted: Jun 3, 2023 7:00pm
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