THE supply reduction had initially been agreed upon in 2023. OPEC+ oil-producing countries have agreed in principle to keep their December production targets unchanged, signalling a pause in output policy adjustments until next year as the group prepares to negotiate production quotas for 2027, Reuters reported on Sunday.
Three people familiar with the matter told the news agency that the understanding was reached ahead of Sunday’s online meeting of seven key OPEC+ members — Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan and Oman.
The sources declined to be identified, according to Reuters. The meeting comes as Gulf producers continue to increase exports that had been disrupted for months by the Iran war. However, most of these countries are still producing below their assigned output targets because of the disruption, Reuters reported.
ANI
#TheGlobalNewLightOfMyanmar