An OPEC return to 2016 oil quotas could mean a cut of 1.2 million bpd

If OPEC and its allies led by Russia agree to reduce oil output next year by reverting to 2016 production quotas, it would imply an OPEC-only supply curb of at least 1.2 million barrels per day (bpd), according to Reuters calculations.

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Source:: Reuters – Business News