Some of OPEC+ nations to extend their voluntary production cuts

Several OPEC+ countries announced on Sunday their decisions to extend their voluntary oil production cuts until the end of 2024. They extend production cuts: Saudi Arabia – by 500,000 barrels a day, Iraq – by 211,000 barrels a day, the United Arab Emirates – by 144,000 barrels a day, Kuwait – by 128,000 barrels a day, Kazakhstan – by 78,000 barrels a day, Algeria – by 48,000 barrels a day, Oman – by 40,000 barrels a day, Gabon – by 8,000 barrels a day. Production will be reduced from the quotas set at an OPEC+ meeting on June 4. The…