Opec+ production cuts deepen with extensions from oil giants
Monday, 4 March 2024
Saudi Arabia, Opec+ countries, and Russia deepened crude supply cuts to balance the oil market. Brent crude prices increase but remain below previous highs. Further voluntary reductions were announced in April 2023. Saudi Arabia led the pack by extending its previously-implemented cut of 1 million barrels a day through the end of 2024's second quarter.
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