MOSCOW, November 3. /TASS/. OPEC+ countries have decided to extend voluntary cuts in oil production by 2.2 million barrels per day until the end of December, according to a statement published on the group’s website.

“The eight OPEC+ countries Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman, which previously announced additional voluntary adjustments in April and November 2023, have agreed to extend the voluntary output adjustments from November 2023 by 2 .2 million barrels per day for one month until the end of December 2024,” the statement said.

Initially, production was supposed to be gradually restored starting in October, but in September, the group decided to delay the process by two months, until December.

OPEC stressed that “the countries also noted the recent announcement by Iraq and the joint statement by Russia and Kazakhstan, in which they strongly reaffirmed their commitment to the agreement, including further voluntary adjustments to their production and compensation programs for overproduced volumes. from January 2024.”