Commodities
OPEC+ Oil Quota Violators Update Pledges for Compensation Cuts
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OPEC+ nations that have persistently exceeded oil production quotas provided updated plans to make additional cutbacks in compensation.
The reductions pledged by countries including Kazakhstan, Iraq and Russia should — in theory — offset the group’s plans to revive halted output through to the end of next year, according to a statement on OPEC’s website. They have also frontloaded their latest reduction plans.