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All OPEC Members Favour Extending Cuts

Oil

All OPEC members are in favour of extending production cuts for a further 6 months, Argus reports, citing Iraq’s OPEC governor Falah al-Amri. However, a formal announcement has not so far been made and an agreement with non-OPEC countries is also still to be reached. OPEC ministers are set to meet in Vienna on 25 May and will hold separate talks with non-OPEC countries.