OPEC+ to consider cutting oil production

(VOVWORLD) - OPEC+ will discuss cutting its oil production by more than 1 million barrels a day, at a meeting in Vienna this week, more than than last week’s figure of half a million to a million barrels a day.

(Photo: Shutterstock)

The meeting on Wednesday will be the group‘s first in-person meeting after two years of COVID-19. It comes amid speculation that a recession will soon reduce oil demand.

The price of oil has fallen to 80USD/barrel, after remaining at 100 USD/barrel for months.

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OPEC+ to consider cutting oil production

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