Saudi Arabia and other OPEC+ oil producers on Sunday announced | STOCKMARKET INFOMANIA

Saudi Arabia and other OPEC+ oil producers on Sunday announced further cuts in their production amounting to around 1.16 million barrels per day in a surprise move they said was aimed at supporting market stability.

The development comes a day before a virtual meeting of an OPEC+ ministerial panel, which includes Saudi Arabia and Russia, and which had been expected to stick to 2 million bpd of cuts already in place until the end of 2023. - Reuters