OPEC countries agree on nine-month curb

Monday evening, OPEC's members agreed on a production curb, and the remaining major oil exporters headed by Russia support the agreement, which will apply for nine months.


OPEC+ follows in the footsteps of OPEC and agree on extending cuts in oil production for nine months, writes Bloomberg News.

The agreement between the OPEC+ countries follows Monday's decision among the 14 oil exporting OPEC countries to extend production cuts, which have been in force since January, in an attempt to raise the oil price.

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