Several OPEC+ countries, including Saudi Arabia and Russia, agreed Thursday to extend oil supply cuts for three months through March to avoid a sharp drop in prices in a global market awash in crude.The decision had been widely expected, though dissension that caused the meeting to be delayed by a few days had created some doubts that the oil cartel would maintain the cuts.Eight OPEC+ countries will extend their "voluntary adjustments" of 2.2 million barrels per day until the end of March, the Vienna-based group said in a statement following a virtual meeting.
Source: Al Monitor
Full Article: OPEC+ extends oil supply cuts through March
