OPEC+ leaders lean towards extending oil cuts as Covid-19 continues to bite – media ...News

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OPEC+ leaders lean towards extending oil cuts as Covid-19 continues to bite – media
Saudi Arabia and Russia, key parties of the OPEC+ deal, are reportedly willing to support a rollover of the alliance's oil production cuts for at least a month, as crude demand has not fully recovered from the coronavirus crisis. The Organization of the Petroleum Exporting Countries (OPEC) and allied oil producers, known collectively as OPEC+, are set to meet on Wednesday and Thursday to decide if the existing production curbs should be prolonged further. According to a Reuters source, the de-facto leader of the OPEC, Saudi Arabia, may support keeping the overall production unchanged in May and June. The kingdom could also extend its o

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