GLOPEC keeps lid on supplies as markets deemed too volatile

06.09.2022

OPEC and allied oil-producing countries, which include Russia, Kazakhstan and Azerbaijan, agreed on Monday to cut oil production by 100,000 barrels per day from next month.

The move, aimed at stabilising global markets, will take supplies back to August levels.

OPEC+ or GLOPEC also left the door open to resume discussions on output targets...