VIENNA, Dec. 5 (Xinhua) -- The Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, agreed Thursday to keep oil production at the current levels for the first quarter of 2025.
In a statement on the OPEC website, eight OPEC+ countries -- Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria and Oman -- said they would extend voluntary output cuts of 2.2 million barrels per day (bpd), originally announced in November 2023, to the end of March 2025.
