6 Days
Source:
AL24 News
OPEC+ Approaching Fourth Output Hike
The OPEC+ alliance is heading towards approving a fourth consecutive increase in oil production since the start of the crisis with Iran in February. It is expected that the seven member countries will raise their production targets by approximately 188,000 barrels per day beginning in July, to compensate for the decline in supplies resulting from the closure of the Strait of Hormuz and the difficulties in meeting demand over recent months. The group's actual production volume dropped to an average of 33.19 million barrels per day in April, compared to 42.77 million in February, due to reduced exports from Gulf countries.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)