The Organization of the Petroleum Exporting Countries and its allies, “OPEC+” agreed Thursday to stick with previously agreed increases in oil production in July and August, and avoid any policy discussions in September.
Russian Deputy Prime Minister Alexander Novak said that the member states of “OPEC +” had decided to increase oil production in August by 648,000 barrels per day.
At its last meeting in early June, “OPEC +” decided to increase production each month by 648,000 barrels per day in July and August, compared to a previous plan to add 432,000 barrels per day over three months.
The OPEC+ group consists of the member countries of the Organization of the Petroleum Exporting Countries and allies such as Russia.
