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Opec: What is it and what is happening to oil prices?

2023-06-05 18:50
Saudi Arabia is cutting output by one million barrels a day, and Opec+ is keeping past cuts in place
Opec: What is it and what is happening to oil prices?

Saudi Arabia has announced it will be cutting its production of crude oil by a million barrels a day to try to boost prices.

Other members of the oil producers' group Opec+ agreed to keep their output levels unchanged, having made cuts of more than one million barrels a day last April.

Oil...