Oil production to drop after Opec+ nations meet
producing countries have agreed to continued cuts in production in a bid to shore up flagging prices./ Saudi Arabia said it would make cuts of a million barrels per day (bpd) in July and Opec+ said targets would drop by a further 1.4 million bpd from 2024./ Opec+ accounts for around 40% of the world's crude oil and its decisions can have a major impact on oil prices./ The seven hour-long meeting of the oil-rich nations, led by Russia, came amid a backdrop of falling prices and an over-supply of the commodity./ Total production cuts, which ...
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