Russia’s invasion of Ukraine in 2022 sent oil prices soaring to $140, raising earnings across the industry. The OPEC+ oil alliance of 22 nations has implemented supply cuts of more than five million barrels per day (bpd) since the end of 2022.Moscow, Riyadh and several other OPEC+ members on Sunday announced extensions to oil production cuts first announced in 2023 as part of an agreement among oil producers to boost prices following economic uncertainty. What is take on oil cuts ?

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