TNPSC Thervupettagam

Oil production cuts

April 9 , 2023 469 days 325 0
  • Saudi Arabia and other OPEC+ members are going to reduce oil production amounting to around 1.16 million barrels per day.
  • The move, according to the countries, is aimed at market stability.
  • This group consist of 23 oil-producing countries.
  • They had reduced its collective output by two million barrels per day in the previous year.

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