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OPEC+ meets to debate production quotas, new cut: Sources

Posted on AllSides June 4th, 2023
From The Center
Joe Klamar | Afp | Getty Images

OPEC and its allies will meet on Sunday to debate a new deal possibly adjusting countries’ output quotas and a further cut in production, sources told Reuters, as the group faces flagging oil prices and a looming supply glut.

OPEC+, which groups the Organization of the Petroleum Exporting Countries and allies led by Russia, pumps around 40% of the world’s crude, meaning its policy decisions can have a major impact on oil prices.

Four sources familiar with OPEC+ discussions have told Reuters that additional production cuts were being discussed among options for...

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https://www.cnbc.com/2023/06/04/opec-meets-to-debate-production-quotas-new-cut-sources.html

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