03141711 The Organization of Petroleum Exporting Countries (OPEC) and Russia announced, this Wednesday, the biggest cut in oil production since the beginning of the pandemic. The cut will be 2 million barrels per day, equivalent to 2% of world production.
According to CNN, production cuts will begin in November. The decision was taken “in light of the uncertainties surrounding the global economic scenario and the oil market.” A new meeting of OPEC countries and their partners is scheduled for December.
