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Published on 7/06/2020 10:33:34 AM | Source: Reuters

OPEC+ endorses one-month extension to oil cuts - sources

Posted in Top Stories| #Russia #World Market #OPEC

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OPEC, Russia and allies agreed on Saturday to extend record oil production cuts by one month until the end of July, five OPEC+ sources told Reuters after the group held a video conference.

The group, known as OPEC+, also demanded countries such as Nigeria and Iraq, which exceeded production quotas in May and June, compensate with extra cuts in July to September.

(Reporting by OPEC team; Writing by Dmitry Zhdannikov; Editing by Edmund Blair)