8 OPEC+ members extend oil supply cuts

By Agence France-Presse

Sep 07, 2024 12:11 am

VIENNA — Eight members of the Organization of the Petroleum Exporting Countries Plus (OPEC+) group of oil-producing nations agreed on Thursday to extend their voluntary supply cuts until the end of November, postponing a planned output increase amid falling crude prices.

Concerns about slowing demand in China and the United States have weighed on oil prices recently, with benchmark West Texas Intermediate plunging below $70 a barrel for the first time in 13 months.

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