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Keyword: opexc

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  • OPEC+ meets to debate production quotas, new cut: Sources

    06/04/2023 12:12:37 PM PDT · by ConservativeInPA · 2 replies
    CNBC ^ | June 4, 2023 | Reuters staff
    KEY POINTS • Four sources familiar with OPEC+ discussions told Reuters that additional production cuts were being discussed among options for Sunday’s session. • Three out of four sources said cuts could amount to 1 million bpd on top of existing cuts of 2 million bpd and voluntary cuts of 1.6 million bpd, announced in a surprise move in April and which took effect in May. • OPEC+ pumps around 40% of the world’s crude, meaning its policy decisions can have a major impact on oil prices.