The oil cartel urged all participating countries to adhere to the directives
OPEC on Wednesday disclosed this at the 47th meeting of the Joint Ministerial Monitoring Committee , according to a statement released by the organisation.
OPEC and its allies had in October last year agreed to cut oil output by 2 million barrels per day in November, the deepest cut by OPEC+ since the 2020 COVID pandemic. OPEC argued that it took the decision “in light of the uncertainty that surrounds the global economy and oil market outlooks, and the need to enhance the long-term for the oil market.”
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