Saudi oil giant Aramco raises $25.6 billion in the world's biggest ever IPO, beating a record set by Alibaba in 2014. Meanwhile, OPEC members meet in Vienna to discuss cutting oil production by a further 500,000 barrels a day - more than previously expected.

The Organisation of Petroleum Exporting Countries (OPEC) has agreed to increase output curbs in early 2020. The agreement, which needs to be formally adopted later today, will cut an extra 500,000 barrels per day of production, through tighter compliance and some adjustments. Emmanuel Adeleke, Research Analyst at ARM Securities joins CNBC Africa for more.

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Aramco is continuing to up the ante as part of an oil price war with its Russian counterpart. Russia said it was considering a similar output boost while also leaving the door open to further negotiations with OPEC.

As Nigeria extends the lockdown for another 14 days, OPEC and Allies agreed to cut oil production by 9.7 million barrels from the first of May, through to the end of June. Andrew Nevin, Partner and Chief Economist at PwC Nigeria joins CNBC Africa to discuss the implications for Nigeria's economy.

The 13-member bloc of oil-rich nations is turning 60 amid a pandemic that's jeopardizing its very existence. Waning influence and a global shift to cleaner energy sources mean that OPEC's glory days are over.

OPEC+ members, including Russia, have been diligently sticking to their production quotas amid the extraordinary shock unleashed by the pandemic. Some of them might now be tempted to throw compliance out of the window.

The price of oil has hit its highest level in three years after the oil cartel OPEC and its allies called off planned talks on Monday over changes to global supplies. Russia and Saudi Arabia had been pushing to increase production after last year's supply cuts, but the United Arab Emirates disagreed. News that the virtual meeting had been abandoned sent oil prices higher in early trading on Tuesday. Also today, we look at how a shortage of rental cars is impacting holidaymakers in France.

OPEC's Secretary-General Mohammad Barkindo has died, Mele Kyari, the chief executive of Nigerian National Petroleum Corp said on Wednesday.

OPEC+ said Wednesday that it will slash oil production by 2 million barrels per day, the biggest cut since the start of the pandemic, in a move that threatens to push gasoline prices higher just weeks before US midterm elections.

The decision by the OPEC+ oil cartel to lower global production to 2 million barrels per day starting in November has prompted the US to dip into its Strategic Petroleum Reserve to dampen prices. An upcoming price cap on Russian oil could also add more inflationary pressure if Moscow decides to respond by cutting supply to participating countries.

OPEC+ is cutting global oil production to drive up prices. The move shows that Russia can still count on the cartel led by Saudi Arabia to help it bolster its war chest.