OPEC, battling threats to both supply in the Middle East and demand elsewhere, is set to keep cutting output
OPEC is set to extend its oil production cuts into the second half of this year, cartel and Saudi officials said, as the group and its allies contend with Middle East tensions that threaten crude supply and economic weakness in China that could crimp demand.
As part of the plan, Saudi Arabia will apply pressure to laggard producers, including Iraq and Nigeria, which haven’t complied with their pledged output curbs under the current agreement, the kingdom’s advisers say.
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