OPEC to cut oil output for first time in a year2 min read . Updated: 05 Sep 2022, 07:56 PM IST
- OPEC+ will reduce production by 100,000 barrels a day next month, taking supplies back to August levels, the group said in a statement
For the first time in a year, OPEC+ agreed to make a token oil supply cut for October, trying to stabilise international markets after a faltering economic backdrop triggered the longest price rout in two years.
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