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OPEC+ extends oil cuts in win for Saudi-Russian alliance

The oil cartel agreed to a one-moth extension of its record oil production cuts and adopted a more stringent approach to make sure its members do not produce more than pledged.
Photo: Leonhard Foeger/Reuters/RitzauScanpix
Photo: Leonhard Foeger/Reuters/RitzauScanpix
BY GRANT SMITH, SALMA EL WARDANY, DINA KHRENNIKOVA AND JAVIER BLAS, BLOOMBERG

OPEC+ agreed to a one-month extension of its record oil-production cuts and adopted a stricter approach to ensuring members don’t pump more than they pledged.

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