![OPEC's headquarters in Vienna, Austria. Major oil-producing countries led by Saudi Arabia and Russia are throttling back supplies of crude. AP](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/7QGA4XGK4MLL3MSRBFWTTTWSYQ.jpg?smart=true&auth=c2b79587a8328b998d19db568334c5b96c617a3188ed5f0464be3a9ba7f5295a&width=400&height=225)
OPEC's headquarters in Vienna, Austria. Major oil-producing countries led by Saudi Arabia and Russia are throttling back supplies of crude. AP
OPEC's headquarters in Vienna, Austria. Major oil-producing countries led by Saudi Arabia and Russia are throttling back supplies of crude. AP
Why Opec+ made a surprise output cut and what's next for oil
In the case of an economic slowdown the 23-member alliance may be pleased to have acted pre-emptively to avoid inventories building up too much