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OPEC+ agrees to extend most oil output cuts into April Updated: 2021-03-05 13:54:11 KST

The oil-producing countries of OPEC and their allies have agreed to extend most of their output cuts into April, except for small exemptions for Russia and Kazakhstan.
They said the recovery in demand, despite the oil price rally, is still fragile.
Under Thursday's deal, Russia can raise output by 130-thousand barrels a day.
Kazakhstan was given an extra 20-thousand barrels a day to meet its domestic needs.
Saudi Arabia said it would extend its voluntary output cut of one million barrels a day, and will decide later when to gradually phase it out.
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