OPEC+ agree to keep boosting oil output, bet on pandemic recovery dw.com 21 hrs ago dw.com
Saudi Arabia and the UAE resolved a dispute over quotas, as the oil cartel hopes to fuel a global recovery from the COVID-19 pandemic.
OPEC+, the world s leading oil producers, have agreed on Sunday to extend a slight boost in output. The 23-member group, which also includes Russia, is now set to boost output by 400,000 barrels per day each month, starting with August. © picture-alliance/dpa/A. Haider Saudi Arabia denied a row with the UAE
It all follows their prior agreement this spring, when they chose to boost oil output bit by bit starting in May, after having slashed it more than a year ago when the pandemic caused demand in crude to plummet.
OPEC+ agree to keep boosting oil output, bet on pandemic recovery
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