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11/30/2023, 4:53 PM (Source: TeleTrader)
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OPEC+ members to reportedly announce cuts separately

Nations from the extended Organization of Petroleum Exporting Countries (OPEC) alliance will announce their own oil production cuts separately, rather than as a group, Energy Intelligence's Amena Bakr reported on Thursday.

The individual reductions in oil output will be carried out on a voluntary basis, it was said in the report.

The expected cuts are reportedly set to remain in place for the first quarter of 2024. In that period, Angola, Nigeria and the Congo will have their respective production levels reviewed independently.

Baha Breaking News (BBN) / MS