OPEC+ group to extend output cuts into this year | World Business Watch
Edited By WION Video Desk
Published: Jan 08, 2024, 05:30 IST | Updated: Jan 08, 2024, 05:30 IST
Saudi Arabia has decided to lower the major Crude prices for consumers in all regions, including its primary market in asia, for the month of February. This is due to the ongoing market downturn. Meanwhile, robust global supply, driven by the US, is increasing the possibility of a glut. This will compel the OPEC+ group, led by Saudi Arabia and Russia, to continue cutting output into this year.
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