The Organisation of Petroleum Exporting Countries (OPEC) and its allies on Sunday agreed to extend its current oil output voluntary cuts until the end of 2025.
OPEC disclosed this at its 37th OPEC and non-OPEC ministerial meeting, a statement released by the organisation said.
The oil cartel said its member countries which announced additional voluntary cuts in April and November 2023 including Saudi Arabia, Russia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman held a meeting in Riyadh.
