Opec+ Decides to Extend 2M Barrels/Day Production Curbs to Boost Oil Prices

Sunday, 2 June 2024, 15:45

The recent Opec+ meeting in Riyadh saw ministers unanimously agree on extending the current 2 million barrel per day production cap until the end of 2025. This decision is aimed at stabilizing and potentially increasing global oil prices amidst ongoing market volatility and geopolitical uncertainties. The move signals a concerted effort by major oil-producing nations to exert control over the energy market, with potential implications for both investors and consumers worldwide.

https://store.livarava.com/dd1fd3bf-20fa-11ef-a3f9-9d5fa15a64d8.jpg — Opec+ Decides to Extend 2M Barrels/Day Production Curbs to Boost Oil Prices

Opec+ extends Oil Production Curbs

Ministers at a meeting in Riyadh agreed the 2m barrel a day limit should be in place until the end of next year.

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