The Organization of the Petroleum Exporting Countries is pushing for additional production cuts
By 1.5 million barrels per day until the end of the year.
OPEC hopes that non-OPEC producers will participate in five hundred thousand barrels per day of the total reduction, but the success of the agreement
Commentary on Russia’s approval, which is not confirmed at all.
If approved, the new agreement would mean increasing the total supply restrictions to 3.6 million barrels per day, equivalent to approximately 3.6 percent of global supplies.
Saudi Aramco usually announces its official price for the sale of crude on the 5th of every month.