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OPEC+ oil alliance announces surprise production cuts from May | Oil and Gas News

2023 04 02T145048Z 946368309 RC2D60A7NKS5 RTRMADP 3 GLOBAL OIL

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Gulf oil giants lead coordinated cut in production, calling it a ‘precautionary measure’ aimed at market stability.

Saudi Arabia and other OPEC+ oil producers have announced voluntary cuts to their production amounting to about 1.15 million barrels per day (bpd), calling it a “precautionary measure” aimed at market stability.

The 23-nation group had been largely expected to stick to its…

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Written by bourbiza

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