OPEC+ Works on Output Cut Accord That May Stretch Into 2025
- Both short- and long-term cuts are up for discussion
- Group is widely expected to extend so-called voluntary curbs
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OPEC+ is pressing on with informal talks aimed at finalizing an agreement on oil-output cuts this weekend, delegates said.
Saudi Arabia and its partners are discussing whether to prolong roughly 2 million barrels a day of production curbs into the second half of the year, with the accord to be completed at Sunday’s online gathering, according to the delegates. They’re also considering the possibility of extending some restraints into 2025, they said, asking not to be identified because the talks are private.