Several OPEC+ countries are extending additional voluntary cuts of 2.2 million barrels per day, aimed at supporting what they are labeling “the stability and balance of the oil market” until the end of June, the OPEC Secretariat announced in Vienna on March 3

OPEC+, which refers to the coalition of the Organization for the Petroleum Exporting Countries and its allies, including Russia, is concerned over global growth and rising output outside the group.

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