Posted 10/4/2023, 12:23:42 PM
OPEC+ Maintains Oil Production Cuts To Support Prices
- OPEC+ panel ends brief meeting without changing current oil production policy, Saudi Arabia and Russia to continue voluntary cuts
- Saudi to keep cutting 1 million bpd in November and December, Russia 300,000 bpd through end of year
- Cuts aim to maintain "stability and balance" in oil markets
- Oil prices dipped this week below $90/barrel Brent, $87/barrel WTI amid broader market sell-off
- Next OPEC+ panel meeting scheduled for November 26 to review production decisions
