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On August 20, an internal OPEC+ report showed that countries that overproduced oil in May and June will have to slash output by over a million barrels per day for two months to compensate for the oversupply.

OPEC+ to Offset Oversupply in May and June

On August 20, an internal OPEC+ report showed that countries that overproduced oil in May and June will have to slash output by over a million barrels per day for two months to compensate for the oversupply.

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