This Is How Much Each OPEC+ Member Needs To Cut | OilPrice.com

This Is How Much Each OPEC+ Member Needs To Cut | OilPrice.com:

OPEC published on Friday the long-awaited list of oil production quotas for each country in the OPEC+ deal, as it seeks to shore up market confidence that the cartel and allies will do whatever it takes to rebalance the market.

OPEC and its non-OPEC partners led by Russia decided in early December to start a new round of cuts, aiming to lift the price of oil that had started to plummet in October on fears of building oversupply and uncertain demand growth going forward. The OPEC+ deal will be removing a combined 1.2 million bpd off the market in the first half of 2019. Initial reports just after the meeting in Vienna in early December suggested that OPEC and its allies would not be unveiling who is cutting how much under the new deal.