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Saudis pledge big oil cuts in July as OPEC+ pact extends to 2024

Faced with falling oil prices, OPEC+ debates new cuts

OPEC + ministers meet on Sunday to try to find a solution to oil prices at half-mast. The key to a possible further reduction in their production is against a backdrop of tensions. The 13 members of the Organization of the Petroleum Exporting Countries (OPEC) will be joined by their ten partners led by Russia. The meeting, the second in the Austrian capital since March 2020, is scheduled to start around 10:00 am (08:00 GMT) According to a source close to the discussions, a cut of 0.7 to 1 million barrels per day has been mentioned.

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