Seven members of OPEC+ — including Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman — agreed on Sunday to raise oil production quotas by 188,000 barrels per day starting in June 2026.
The decision was made during a virtual meeting to review global oil market conditions and is part of a gradual adjustment to earlier voluntary production cuts introduced in 2023. The group said future output changes could be increased, paused, or reversed depending on market stability and compliance levels.
Credit : CGTN
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