Brent Oil Falls to $80 a Barrel as OPEC+ Plans to Restore Output

Brent oil dropped below $80 for the first time since February as OPEC+ set out a timetable for gradually unwinding some of its production cuts.

An agreement reached in Riyadh Sunday extended so-called “voluntary” output curbs for Saudi Arabia and Russia well into next year. But it also begins rolling back some supply reductions in October, earlier than some OPEC-watchers had assumed.