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OPEC+ extends output cuts in push to tighten oil market

June 9, 2020, by Nermina Kulovic

OPEC, Russia, and other oil producers at a meeting last weekend agreed to extend their record oil production cuts of 9.7 million barrels per day by another month, which means that the cuts will now last until the end of July 2020. It is expected that these cuts will tighten the market further.

 

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