OPEC+ oil giants extend oil output cuts amid economic uncertainty
Some members of oil cartel OPEC, led by Saudi Arabia, and allied producers like Russia are again deepening their voluntary crude supply cuts. Announcements from several OPEC+ countries extend reductions of some 2.2 million barrels a day, the secretariat for the multinational organisation noted Sunday. Saudi Arabia led the pack by extending its previously implemented cut of 1 million barrels daily through the end of 2024's second quarter. Lower oil and natural gas prices hit Eni's earnings in the fourth quarterMiddle East tensions fuel chances of oil price surgeBig oil rewards execs for increas...