Oil-Exporting Countries Agree Not to Change Deal Terms

The OPEC+ group has committed to maintaining the previously established terms of the oil agreement. This decision was made by member countries during a meeting held today, according to Reuters, citing two sources from OPEC+.

OPEC+ includes oil-exporting countries, including Russia. The U.S. and its allies have accused OPEC+ of catering to Russia's interests.

The organization also announced that it will reduce production. Oil prices have been declining since October due to sluggish economic growth and rising interest rates. Earlier, the OPEC+ monitoring committee recommended maintaining the current oil production plan at a decrease rate of 2 million barrels per day.