OPEC+ Negotiates Long-Term Extension of Oil Output Cuts OPEC+ is negotiating a complex deal to extend its current oil production cuts into 2025, sources revealed. The group, led by Saudi Arabia and Russia, has been reducing output by 5.86 million barrels per day since late 2022 to counter increased production from non-members like the U.S. and address demand concerns amid high global interest rates. The ongoing cuts include 3.66 million bpd by OPEC+ members through 2024 and 2.2 million bpd of voluntary cuts expiring in June. The new deal may extend these cuts into 2025 and late 2024, respectively. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts SNAP Benefits Shows 1 in 8 Americans are on Food Stamps READ MORE Gold Prices Steady After Major Sell-Off Amid China and U.S. Economic News READ MORE Gold Set for a Great 2024, with Silver to Shine Even Brighter: UBS Insights READ MORE Currency Expert Predicts De-dollarization Will Fail and Backfire READ MORE Market Watches Fed and Inflation Cues as Gold Steadies at $2,300 READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment