OPEC+ Boosts Oil Output Amid Tensions
At their meeting on Sunday, eight OPEC+ countries agreed to increase oil production by 548,000 barrels per day starting in September. The group's next meeting is scheduled for September 7, according to sources. This decision comes amid ongoing global tensions affecting oil markets.
Eight OPEC+ countries have reached a consensus to boost oil output, affirming an increase of 548,000 barrels per day by September. This information was relayed by three reliable OPEC+ sources during the meeting held on Sunday.
Known for its influential role in global oil markets, OPEC+ is positioning itself strategically in response to current economic pressures. The decision reflects attempts to stabilize pricing while addressing demand fluctuations.
The next assembly of OPEC+ member countries is set for September 7, as stated by one of the sources. The meeting's agenda is expected to further address supply and production strategies.
(With inputs from agencies.)
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