OPEC Announces Another Round Of Production Cuts

Credit: Wochit Business
Published on December 7, 2018 - Duration: 00:40s

OPEC Announces Another Round Of Production Cuts

According to Reuters, OPEC agreed to another round of production cuts to reduce a global supply glut and stabilize oil prices.

OPEC and non-member nations will cut up to 1.2 million barrels per day beginning in 2019.

Member nations of the oil cartel will cut a collective 800,000 barrels a day from production, while non-member nations, including Russia,will cut 400,000 barrels a day.

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OPEC Announces Another Round Of Production Cuts

AN APRIL 4, 2009 FILE PHOTO.

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