OPEC+ Debates Production Cuts Amidst Slumping Oil Prices.
TL;DR Summary
OPEC+ will meet on Sunday to discuss a possible new deal that could include adjusting countries' output quotas and a further cut in production, as the group faces flagging oil prices and a looming supply glut. Additional production cuts of up to 1 million barrels per day (bpd) are being discussed among options for the session. If approved, the new cut would take the total volume of reductions to 4.66 million bpd, or around 4.5% of global demand.
- OPEC+ meets to debate production quotas, new cut: Sources CNBC
- Saudi Arabia, Some OPEC Members Clash Over Oil-Production Quotas - WSJ The Wall Street Journal
- With oil prices slumping, OPEC+ producers weigh more production cuts Yahoo News
- OPEC+ weighs fresh output cuts to boost oil price FRANCE 24 English
- OPEC+ Preview: Crude Oil Prices Linger Ahead of Production Guidance DailyFX
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