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Oil market braces for volatile open after Saudi Arabia leads coordinated OPEC+ cuts totaling more than 1 million barrels a day

Por: MarketWatch Business April 02, 2023

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It said that the “voluntary cut is in addition to the reduction in production” agreed at the OPEC meeting in October and “is a precautionary measure aimed at supporting the stability of the oil market.” OPEC+ agreed in October to cut production by 2 million barrels a day from November, a move that angered the Biden administration. Russia’s deputy prime minister, Alexander Novak, said his country would extend of 500,000 barrels a day... + full article



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