OPEC+ move to extend oil cuts to stir 1.6 mil mt/year LPG output loss

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The coalition of OPEC and other oil producers’ early April decision to extend production cuts of about 1.16 million b/d is projected to trigger a 1.6 million mt/year loss in LPG output, or a monthly drop of about three Very Large Gas Carrier cargoes, should the reduction be fully achieved, S&P Global Commodity Insights analysts said in a report. This…