OPEC+ Set to Increase Oil Production by Over Half a Million Barrels Daily, Aiming to Ease Rising Fuel Prices
A group of oil-producing nations within the OPEC+ coalition has announced plans to increase oil production, a decision that could potentially lead to lower prices for oil and gasoline. This development comes amid a positive outlook for the global economy and declining oil inventories. During a virtual meeting on Sunday, OPEC+ confirmed that eight of its member nations would ramp up output by 547,000 barrels per day in September. The countries involved in this increase include heavyweights such as Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman. These nations have … Read more