Vienna: The OPEC+ countries, including Russia and Saudi Arabia, have agreed to postpone the recovery of oil production that was originally scheduled to begin in October, APA reports. The decision will delay the increase in production for two months, pushing the start date to December.
According to Azeri-Press News Agency, the postponement was confirmed on Wednesday. The group of eight nations had been planning to gradually restore production after voluntarily cutting output by 2.2 million barrels per day. The production increase was to begin with an additional 180,000 barrels per day starting in October 2024. The delay is part of ongoing efforts to stabilize global oil markets.