Saudi Arabia will pledge new voluntary production cuts as part of a broader OPEC+ deal to curb output as the group faces flagging oil prices and a looming supply glut
The April announcement helped to drive oil prices about $9 per barrel higher to above $87, but they swiftly retreated under pressure from concerns about global economic growth and demand. On Friday, international benchmark Brent settled at $76.
Typically, production cuts take effect the month after they are agreed but ministers could also agree to later implementation. During Sunday's meeting, OPEC's most influential members and biggest Gulf producers led by Saudi Arabia were trying to persuade under-producing African nations such as Nigeria and Angola to have more realistic output targets, sources said.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Pivotal OPEC meeting to showcase Russia, Saudi tensionsHere's why the upcoming OPEC meeting will be a 'pivotal' moment as tensions simmer between Russia and Saudi Arabia over global oil supply
Leer más »
Pride Month 2023: Your guide to 40+ events in AlabamaIt's Pride Month! Here are more than 40 ways to show your pride, recognize the LGBTQ+ community and spread a message of equality and acceptance, all around the state! 🏳️🌈
Leer más »
Tina Turner Tops 40 Million U.S. Streams in Week After Her Death“What’s Love Got To Do With It” led all of the legend’s songs in activity.
Leer más »
Metrorail will close four Orange Line stations in northern Virginia to replace 40-year-old railStarting Saturday, Metrorail will close down four Orange Line stations -- Vienna, Dunn Loring, and West and East Falls Church -- to replace decades-old rail.
Leer más »