OPEC+ Nations Set to Decide on Extending Cuts in Early March
- Saudi Arabia and seven other members agreed curbs in November
- March decision needed for implementing second-quarter cargoes
OPEC headquarters in Vienna, Austria.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
OPEC+ nations plan to decide in early March whether to extend oil output cuts into the second quarter, delegates said.
Seven coalition members have pledged supply curbs totaling about 900,000 barrels a day this quarter, in tandem with a 1 million-barrel reduction by group leader Saudi Arabia. They’ll review whether to continue the curbs in about one month’s time, according to officials, who asked not to be identified.