The oil-exporting countries accepted the agreement to reduce their targets. That of producing an additional 4 million barrels per day (bpd) starting in 2024

The oil-exporting countries have finally agreed to maintain their reduction in production quotas of 1.4 million barrels per day (bpd) from 2024. The reduction could go beyond the month of July according to Prince Ben Salman, Saudi Minister and Energy Minister whose country has announced the extension until 2024 of its program to voluntarily reduce production by 500,000 bpd. Saudi Arabia is expected to see its production fall to 9 million barrels per day in July, the lowest level since June 2021 based on this dramatic drop