April 4, 2025

The Newzz Owl

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OPEC & Its Allies Including Russia Agreed to Cut Oil Production By 2 Million Barrels A Day

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Despite pressure by the United States, OPEC and its allies including Russia have agreed to cut oil production by 2 million barrels a day or around 2% of demand, in an effort to raise oil prices. This was the largest decrease in demanc since the early days of the pandemic.

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