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OPEC+ to review oil cut extension in March, ministers leave policy unchanged
OPEC+ will decide in March whether or not to extend voluntary oil production cuts in place for the first quarter, two OPEC+ sources said on Thursday after a ministerial panel meeting made no changes to the group's output policy. Last November, OPEC+ agreed to voluntary output cuts totalling about 2.2 million barrels per day (bpd) for the first quarter of this year led by Saudi Arabia rolling over a 1 million bpd voluntary reduction. Oil prices have found support from expectations of interest rate cuts and amid rising geopolitical tensions, notably attacks by the Iran-aligned Houthi group on Red Sea shipping. Brent ... (full story)