Top oil producers including Saudi Arabia and Russia are considering to slash oil output at a time when high energy bills have made life difficult for consumers around the world
The OPEC+ oil cartel will meet in Vienna on Wednesday for the first time since Covid-19 curbs were introduced in 2020.
Sunday's figure is slightly above estimates for a cut given last week, which ranged between 500,000 bpd and 1 million bpd. Wednesday's face-to-face meeting of the 13 OPEC members led by Saudi Arabia and its 10 allied members headed by Russia will be the first in the Austrian capital since the spring of 2020.Saudi Arabia, OPEC’s de facto leader, first flagged the possibility of cuts to correct the market in August.
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