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A comment on Oil plunges as much as 17% as UAE says support output hike. Parent comment

Re:Oil plunges as much as 17% as UAE says support output hike by mywittyname on Wednesday March 09, 2022 @04:03PM (#30619916)
I read somewhere that they agreed to cut production for two years in response to the pandemic decimating the oil industry.
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Re:Oil plunges as much as 17% as UAE says support output hike by mythopedia on Thursday March 10, 2022 @09:43AM (#30627445)
Yes, and that agreement is set to 'expire' next month. "Starting in May 2020, the OPEC+ agreement called for a decrease in crude oil output by an initial 9.7 million barrels per day (b/d) that gradually tapers through April 2022, the end of the current agreement period."[0]

[0] https://www.eia.gov/todayinenergy/detail.php?id=45236

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