OPEC+ Commits to Extending Oil Supply Cutbacks Through June – Global Surplus Averted!

Vienna, Austria – In a strategic move to prevent a global surplus and stabilize oil prices, the OPEC+ alliance has agreed to extend oil supply cutbacks until the middle of the year. This decision comes as a response to the ongoing challenges in the global oil market. The collective reduction in oil production, amounting to approximately 2 million barrels per day on paper, will now be enforced until the end of June. Leading members of …

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