OPEC extends oil output cuts by one month until the end of December

Saudi Arabia and allied oil producing countries on Sunday said they would postpone a plan to gradually increase oil output until the end of the year.

The eight members of OPEC+ were due to begin gradually increasing their output from the end of this month, but say they will now begin unwinding the 2.2 million barrels a day cut from January.

The planned gradual increase had already been delayed from October because of falling prices and…