OPEC mulls output cut amid slowing global growth media

The group of oil-producing nations will meet in person this week for the first time since March 2020

OPEC and allies are expected to cut production at a meeting scheduled for Wednesday, according to media reports.

Banks such as JPMorgan Chase told Bloomberg that the organization needs to lower output by least 500,000 barrels per day (bpd) to stabilize global oil prices. According to Reuters