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The Guardian - UK
The Guardian - UK
Business
Graeme Wearden

Oil alliance Opec+ extends crude production curbs into 2025

OPEC Oil Riyadh
An oil rig worker looks at a refinery as white smoke pours out of a chimney
An oil refinery, owned by Kazakhstan's state energy company KazMunayGas, in the city of Atyrau. Photograph: Turar Kazangapov/Reuters

The Opec+ group of oil producers have agreed to extend most of their production curbs into next year, in an attempt to shore up crude prices.

After a ministerial meeting in Riyadh on Sunday, the Opec cartel and allies including Russia decided to extend a cut of 2m barrels a day until the end of 2025, rather than ending it at the end of 2024.

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