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Oil: OPEC+ drastically lowers its quotas, by 2 million barrels

2022-10-05T14:44:41.757Z

The member countries of the international organization met for the first time physically, in Vienna, since the start of the Covid-19 pandemic.



The OPEC + countries meeting in Vienna on Wednesday decided to drastically cut their production quotas, according to a member of the Iranian delegation, in order to support prices affected by fears of recession.

Representatives of the thirteen members of the Organization of the Petroleum Exporting Countries (OPEC) and their ten allies have agreed to a drop of "

two million

" barrels per day for the month of November, said at the end of the meeting Amir Hossein Zamaninia, representative of Iran within the cartel.

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- Sanctions: Brussels offers the Twenty-Seven to cap the price of Russian oil

Source: lefigaro

All business articles on 2022-10-05

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