The OPEC+ alliance decided to increase oil production by 548,000 barrels a day in August, continuing the upward trend for the fourth consecutive month.
Raluca Ioana Draghici
Economy
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OPEC+ will increase oil production by 548,000 bpd in August amid market volatility sparked by the attacks on Iran. This is the fourth consecutive month of increases after the group maintained cuts from 2022 to support prices. The increase will come from eight members of the alliance, which have started to phase out restrictions. Although some countries have exceeded quotas, OPEC+ justifies the decision with a stable global economic outlook. The next meeting will take place on August 3.
Sources
Alianţa OPEC+ a convenit sâmbătă să majoreze producţia de petrol
OPEC+ accelerează creşterea producţiei de petrol: creştere cu 548.000 de barili/zi în august
Membrii OPEC+ convin asupra unei creșteri mai mari decât se aștepta a producției de petrol în august
OPEC+ va crește producția de petrol în luna august cu 548.000 de barili pe zi
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