• OPEC says it will limit output to 32.5 to 33 mln bpd (this compares to the most recent known group production at 33.24 mln bpd)

  • So, that’s a reduction of about 700K barrels per day 9depending on where in the range the cut comse to)

  • Now OPEC will try to reach an agreement with non-OPEC producers

  • A committee has been set up to choose how the cut will be allocated between members

  • The committee will report in November

*via forexlive

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