Moscow, Riyadh and several other OPEC+ members on Sunday announced extensions to oil production cuts first announced in 2023 as part of an agreement among oil producers to boost prices following economic uncertainty. The plan to extend cuts to mid-2024 comes on top of previous cuts to both oil output and exports as some of the world’s largest energy producers drive to push up market rates.Saudi Arabia’s energy ministry said it would cut its production by one million barrels per day (bpd) from April to June (Q2…
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