OPEC+ to discuss deeper oil cuts on Thursday: Iraq minister

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ABU DHABI: OPEC and its allies will discuss whether there is a need for deeper cuts in oil production when they hold a ministerial meeting on Thursday, Iraq’s oil minister said. The Organization of the Petroleum Exporting Countries and allied producers led by Russia, a grouping known as OPEC+, agreed last year to cut oil supply by 1.2 million barrels per day (BPD) to support prices. The cuts came into effect on Jan. 1.

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