OPEC+ agrees to stick to its existing policy of reducing oil production ahead of Russia sanctions
2022-12-05 09:19:46 source：CNBC
December 4, 2022
An influential alliance of oil producers on Sunday agreed to stay the course on output policy ahead of a pending ban from the European Union on Russian crude.
OPEC and non-OPEC producers, a group of 23 oil-producing nations known as OPEC+, decided to stick to its existing policy of reducing oil production by 2 million barrels per day, or about 2% of world demand, from November until the end of 2023.
Energy analysts had expected OPEC+ to consider fresh price-supporting production cuts ahead of a possible double blow to Russia's oil revenues.
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