OPEC+ Headed for 2 Million Bpd Oil Output Cut in 2024

As the meeting of the Joint Ministerial Monitoring Committee (JMMC) began on Thursday, delegates are telling media that OPEC+ could be discussing deeper oil production cuts for the first quarter of 2024 and that total cuts could be close to 2 million barrels per day (bpd).   Total OPEC+ cuts could approach 2 million bpd, depending on the willingness of the countries to contribute, according to delegates, commodity analyst Giovanni Staunovo reported as the JMMC meeting began. The figure includes a rollover of the Saudi and Russian cuts…