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OPEC+ agrees to redistribute oil cuts under Saudi pressure

OPEC+ agrees to reduce its output target and redistributes production cuts more evenly between member states following pressure from Saudi Arabia.
Photo: Nick Oxford/Reuters/Ritzau Scanpix
Photo: Nick Oxford/Reuters/Ritzau Scanpix
By Grant Smith, Annmarie Hordern, Laura Hurst and Nayla Razzouk, Bloomberg

OPEC+ will adjust its output target and redistribute production cuts between its members under pressure from Saudi Arabia, which has long carried an outsized share of the burden.

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