OPEC+ mulling 1.0m barrel production cut

Brent crude oil futures jumped at the start of the quarter amid reports that the Organisation of Petroleum Exporting Countries and its allies may cut their combined output by approximately 1.0m barrels a day.

The reports, citing delegates, said that cuts of 0.5m b/d or 1.0m b/d were also on the table for Wednesday's meeting and that a final decision would not be taken before.

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