The OPEC+ Monitoring Committee agreed to cut production by 2 million barrels per day. This is reported by Reuters.
"Key ministers of the Organization of the Petroleum Exporting Countries, known as the General Ministerial Monitoring Committee, have agreed to cut oil production," the report said.
It is about the fact that countries will reduce production by 2 million barrels per day.
This recommendation will be discussed at the full-length meeting of OPEC+ ministers.
It was previously reported that the Organization of the Petroleum Exporting Countries (OPEC) and allies, including Russia (the OPEC+ group) will hold a meeting in Vienna on Wednesday to discuss cutting production to 2 million barrels per day. A cut of this magnitude would be the biggest by OPEC+ since demand collapsed in 2020 due to COVID-19.
