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Opec agrees to redistribute oil cuts under pressure from Saudi Arabia

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Saudi Arabia Energy Minister Prince Abdulaziz bin Salman (centre) at the start of the 177th Opec meeting in Vienna, Austria, on Thursday. Under the new deal, the size of Opec's daily production cuts target will be increased from 1.2 million barrels to 1.7 million barrels, compared to a baseline of October 2018.

Vienna

THE Organization of Petroleum Exporting Countries (Opec) will adjust its output target and redistribute production cuts between its members under pressure from Saudi Arabia, which has long carried an outsized share of the burden.

The group,...

sentifi.com

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