OPEC+ meets to debate production quotas; weighs in fresh output cuts to boost oil prices
OPEC+ pumps around 40 per cent of the world's crude, meaning its policy decisions can have a major impact on oil prices.
The Organization of the Petroleum Exporting Countries and its allies, or OPEC+ met in Vienna on June 4 to consider more oil production cuts in a bid to bolster oil prices. The 13-member OPEC led by Saudi Arabia is consulting with 10 other oil majors, including Russia, to review the grouping's future output policy.
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