OPEC+ to boost oil production ...News

Russia Today - Economy
OPEC+ to boost oil production
source : Russia Today ( News ) () 8
The group has agreed to open the taps to cool rising energy prices The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, agreed on Thursday to increase oil production to offset Russian output losses and ease soaring prices. According to a press release published on its website, the group will hike output by 648,000 barrels per day (bpd), or 0.7% of global demand, over the months of July and August. The initial plan said the group would add 432,000 barrels per day every month until the end of September. The move will likely be seen as a sign of willingness by Saudi Arabia and other OPEC

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