OPEC receives updated compensation plans from four countries

11:45 AM (Mecca time) Argaam
Logo of OPEC

Logo of OPEC

OPEC received updated output compensation plans from Iraq, the UAE, Kazakhstan, and Oman, the organization said on Monday in a post on X.

 

The announcement follows a virtual OPEC+ meeting held on Sunday, in which the alliance decided to keep its oil production level unchanged for March.

 

The statement did not address what OPEC+, which collectively produces about half of the world’s oil, may decide for the period after March.

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