Saudi Arabia, the UAE, Russia and other key oil producers agreed on Thursday to another marginal increase in output, bolstered by risks to demand amid coronavirus restrictions in China. Russia's brutal invasion of Ukraine has added to supply concerns, which have increased with Europe's announced moves on a potential Russian oil embargo. But in short back-to-back meetings on Thursday, Organization of Petroleum Exporting Countries members and their allies (OPEC+) reconfirmed "the decision to adjust upward the monthly overall production by 0.432 mb/d [432,000 barrels per day] for the month of June," the group said in a statement. Prices had soared on Wednesday, with Bre
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