OPEC+ panel recommends 2 million-barrel cut to output limits

A panel of OPEC+ ministers recommended a cut to the group’s output limits of 2 million barrels day as they seek to halt a slide in oil prices caused by the weakening global economy.

The recommendation from the cartel’s Joint Ministerial Monitoring Committee will be discussed by ministers later on Wednesday before they make a final policy decision, delegates said, asking not to be named because the information is private.