CNN —
The Organization of the Petroleum Exporting Countries and its allies — a group of leading oil producers known as OPEC+ — agreed Sunday to extend a voluntary production cut of 2.2 million barrels of crude oil a day into 2025.
The cuts, first agreed in December, were due to expire at the end of this month. They came on top of previously agreed reductions of 3.66 million barrels per day announced in 2022 and 2023 as the group — led by Saudi Arabia and Russia — tried to counter slowing demand and rising output from the
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