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OPEC+ members agree to boost oil output in July

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OPEC+ members agree to boost oil output in July

Seven OPEC+ members — Russia, Saudi Arabia, Iraq, Kazakhstan, Kuwait, Algeria and Oman — have agreed to increase oil production by 188,000 barrels per day starting in July.

Axar.az reports that the decision was announced in a statement issued by the group.

“In their collective commitment to support oil market stability, the seven participating countries decided to implement a production adjustment of 188 thousand barrels per day from the additional voluntary adjustments announced in April 2023. This adjustment will be implemented in July 2026,” the statement said.

Date
2026.06.07 / 21:18
Author
Axar.az
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