OPEC is considering an oil production cut of more than one million barrels per day at its October 5 meeting, OPEC sources said on Sunday.
The figure is slightly above the estimates made last week for a cut that ranged from 500,000 BPD to 1 million BPD.
OPEC+, which unites OPEC countries and its allies such as Russia, is meeting face to face in Vienna for the first time since March 2020.
“This is a meeting that takes place at an exciting global time,” said one of the sources.
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