OPEC+ opens talks on whether to extend oil cuts or gradually hike output

DUBAI/LONDON, OPEC+ members began a meeting on Monday to discuss whether to extend existing oil cuts for three to four months or to increase output gradually from January, as the coronavirus crisis continues to pummel demand for fuel.
Officials from the Organization of the Petroleum Exporting Countries, Russia and others, a group known as OPEC+, held an initial round of talks on Sunday before formal discussions began to reach a concerted policy for 2021.
OPEC+ is considering extending existing cuts of 7.7 million bpd, about 8% of global demand, into the first months of 2021, OPEC+ sources told Reuters.


Source: Saudi Press Agency

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