OPEC+ Agrees to Extend Production Cuts in Bid to Boost Oil Prices
June 2nd, 2024Via: Wall Street Journal:
OPEC+ on Sunday agreed to extend all production curbs into 2025 in an effort to shore up oil prices, delegates said, with top producers in the group continuing to haggle over a deal to cut output further.
The agreement comes on the same day the group’s kingpin, Saudi Arabia, launched a giant sale of shares in its national oil champion that will yield billions to help fund the kingdom’s economic transformation.
