Some OPEC+ countries to extend production cuts by 1.66 mln barrels a day in 2025
Business & Economy
June 02, 17:28
Apart from that, another source told TASS that the OPEC+ countries agreed upon the extension of voluntary production cuts by 2.2 million barrels a day through the third quarter of 2024
MOSCOW, June 2. /TASS/. A number of OPEC+ countries, including Russia and Saudi Arabia, will extend overall voluntary production cuts by 1.66 million barrels a day throughout 2025, a source in one of the delegations told TASS.
"An overall of 1.66 million barrels a day until the end of 2025," the source said.
These cuts were originally meat until late 2024.
Apart from that, another source told TASS that the OPEC+ countries agreed upon the extension of voluntary production cuts by 2.2 million barrels a day through the third quarter of 2024. These commitments have been in force since the beginning of 2024 and so far are confined to the second quarter.