OPEC + countries plan to reduce production cuts in early January. The group is currently reducing production by 7.7 million barrels per day to contribute to achieving a balance in the market, supporting prices and reducing stocks.
A technical committee of the Organization of the Petroleum Exporting Countries (OPEC) and allies of oil producers, the group known as OPEC +, ended their meeting last Thursday and expressed concern about rising oil supplies while social restrictions to curb Covid-19 restrict fuel consumption, according to Reuters.
A meeting of OPEC + is scheduled for November 30 and December 1 to set policies.
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