Saudi Arabia will pledge new voluntary production cuts as part of a broader OPEC+ deal to curb output, sources told Reuters, as the group faces flagging oil prices and a looming supply glut.
The group, known as OPEC+, reached a deal on output policy after seven hours of talks, the sources said.
Two OPEC+ sources said the group was likely to maintain an existing output agreement for 2023 and make additional cuts in 2024 if new production baselines for members, from which cuts are made, are agreed.
