OPEC+ production cuts deepen with extensions from Saudi Arabia, Russia and other oil giants [Video]

FILE – The logo of the Organization of the Petroleoum Exporting Countries (OPEC) is seen outside of OPEC’s headquarters in Vienna, Austria, March 3, 2022. Some members of oil cartel OPEC, led by Saudi Arabia, and allied producers like Russia are again deepening their voluntary crude supply cuts. Announcements from several OPEC+ countries extend reductions of some 2.2 million barrels a day, the secretariat for the multinational organization noted Sunday, March 3, 2024. (AP Photo/Lisa Leutner, file) (Lisa Leutner, Copyright 2022 The Associated Press. All rights reserved)

NEW YORK – Some members of oil cartel OPEC, led by Saudi Arabia, and allied producers like Russia are again deepening their voluntary crude supply cuts.

Announcements from several OPEC+ countries extend reductions of some 2.2 million barrels a day, the secretariat for the multinational organization noted Sunday. Saudi Arabia led the pack by extending its previously-implemented cut of 1 million barrels a day through the end of 2024’s second quarter.

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Tags Oil And Gas Life, Oil Production, OPEC, Organization Petroleum Exporting Countries