OPEC+ Output Cuts Facing Uncertainty Next Year

Major crude oil producers in the Arabian Gulf are considering whether to extend output curbs into 2021, Reuters reported.

The current OPEC+ agreement indicates that by the end of the year, production cuts will be eased by 2 million barrels per day (b/d).

However, it is widely expected that the alliance will extend the current 7.7 million b/d cuts into next year, amid growing concerns about the COVID-19 pandemic and the recovery of the global demand for energy.