OPEC+'s production decision will buoy oil prices
OPEC+ members announced their decision to cut oil production by about another 1.16 million barrels per day, starting in May and going until the end of 2023.
OPEC+ members announced their decision to cut oil production by about another 1.16 million barrels per day, starting in May and going until the end of 2023. Last fall, the oil cartel moved to reduce production by 2 million barrels per day until the end of 2022. Oil prices have reacted by rising, a trend which is likely to continue.
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