Media says OPEC and Russia discussing output cuts, to meet on Monday

OPEC and Russia discuss cutting global oil output by 10 million bpd, an OPEC source tells Reuters. According to Bloomberg, countries are preparing for a virtual meeting.

Photo: Essam Al Sudani/REUTERS / X03713

The Organization of the Oil Exporting Countries (OPEC) and other major oil-extracting nations, known as OPEC+, are in talks on global output cuts of 10 million barrels per day.

An OPEC source says as much to Reuters on Friday, adding that the cuts will include actors outside the alliance. Bloomberg writes that OPEC+ countries are preparing to hold a virtual meeting on Monday.

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