OPEC could cut output if recession takes place - report - Breaking The News

OPEC could cut output if recession takes place - report

23 August

1 min read

EPA-EFE/LISI NIESNER

The Organization of the Petroleum Exporting Countries could decide to reduce oil production in case of a global recession, representatives of a number of countries from the alliance told The Wall Street Journal on Tuesday.

OPEC and its partners led by Russia have been closely coordinating oil production quantities, especially since the initial impact of the coronavirus pandemic in the first half of 2020.

The two groups will meet again on September 5 to set the future course of oil output.

opec oil

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