The Organisation of Petroleum Exporting Countries (OPEC) on Sunday agreed to maintain its planned monthly oil output, as the European Union agreed to impose a price cap on Russian oil.
OPEC disclosed this at its 34th OPEC and non-OPEC ministerial meeting, according to a statement released by the organisation on Sunday.
The oil cartel noted that its decision was in adherence to the approach of being proactive and preemptive.
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