Posted 10/4/2023, 1:03:57 PM
OPEC+ Maintains Oil Output Cuts, Saudi Arabia and Russia Continue Voluntary Reductions
- OPEC+ panel made no changes to group's oil output policy at meeting on Oct 4
- Saudi Arabia and Russia said they will continue voluntary supply cuts to support oil market
- Saudi voluntary cut remains 1 million bpd, Russia extending 300,000 bpd voluntary export curb
- Cuts aimed at stabilizing market, not targeting prices according to Saudi Energy Minister
- Next OPEC+ meetings scheduled for Nov 26 to assess market and decide policy
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