OPEC+ to Ramp Up Oil Production by 500,000 Barrels
OPEC+ is reportedly planning to increase oil output by 500,000 barrels daily over the next three months. This decision aims to address global oil demand and stabilize prices. Reuters has yet to confirm this information, originally reported by Bloomberg News.
According to a report by Bloomberg News, OPEC+ is considering a substantial increase in its oil output, planning to hike production by 500,000 barrels per day over the forthcoming three months.
The potential production boost comes as a response to rising global demands and an effort to stabilize fluctuating oil prices.
Reuters has not independently verified Bloomberg's report, which cites a delegate involved with the discussions.
(With inputs from agencies.)
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