OPEC+ to accelerate oil output hikes, warns of ending voluntary cuts if compliance lags ...Middle East

The decision follows April's surprise move to raise output faster than expected, a strategy reportedly led by Saudi Arabia to penalise members falling short of their quotas. A fresh increase for June was agreed over the weekend, pushing total planned hikes from April to June to nearly 1 million bpd. Another 411,000 bpd is expected to be approved for July, with further increases likely through October.

Saudi Arabia also issued a warning on non-compliance during the latest meeting, one source said. Kazakhstan has already openly defied the group, with its energy minister saying national interests take precedence.

--

Oil futures trade begins soon, update as of Friday;

This article was written by Eamonn Sheridan at www.forexlive.com.

Hence then, the article about opec to accelerate oil output hikes warns of ending voluntary cuts if compliance lags was published today ( Monday 05/05/2025 - 12:51 AM ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.

Read More Details
Finally We wish PressBee provided you with enough information of ( OPEC+ to accelerate oil output hikes, warns of ending voluntary cuts if compliance lags )

Also on site :

• Aura AI Assistant for Unreal Engine Launches: VR Studio Ships Game in Half the Time with New Agent Capabilities
• Man accused of placing pipe bombs near GOP and Democratic headquarters in Washington to remain in jail pending trial
• Driver dies after plow truck goes off the road in Steuben County