MOSCOW, November 3. /TASS/. OPEC+ countries have decided to extend voluntary oil production reductions of 2.2 million barrels per day until the end of December, according to a press release published on the group’s website.

“The eight OPEC+ countries of Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman, which previously announced additional voluntary adjustments in April and November 2023, agreed to extend the voluntary production adjustments of November 2023 by 2.2%. million barrels per day for one month until the end of December 2024,” the press release said.

Initially, production was to resume gradually from October, but in September the group decided to postpone the process for two months, until December.

OPEC stressed that “the countries also took note of the recent announcement made by Iraq and the joint statement made by Russia and Kazakhstan, in which they strongly reaffirmed their commitment to the agreement, including including additional voluntary production adjustments and their compensation schedules for overproduced volumes. since January 2024.”