Any extra cuts, if approved, would likely draw a rebuke from the U.S. Photo: henry chirinos/ShutterstockOPEC and its Russia-led allies are considering new oil production cuts of as much as 1 million barrels a day, delegates said Wednesday, despite tensions in oil markets amid the conflict in the Middle East.
The move, which would likely send oil prices higher, could be announced Thursday at a virtual meeting of the cartel.
The meeting, originally scheduled for last week, was postponed over disagreements about production.
Persons:
henry chirinos
Organizations:
U.S, OPEC
Locations:
Russia