OPEC+ agrees to continue planned crude output increases ...Kuwait

The OPEC group of oil-producing countries and its allies agreed on Tuesday to maintain their planned production increases, as pandemic-hit demand for crude recovers. The 23-nation OPEC+ alliance implemented sharp output cuts to support prices after the coronavirus pandemic crushed the global economy last year. But since early May the cartel has started implementing more generous production increases as oil prices have recovered and the health situation improves in developed economies. At the end of a short meeting on Tuesday which lasted barely half an hour, the group agreed to continue rises up until July adding up to 1.2 million barrels per day (bpd). However, the

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