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Published 2 years ago

OPEC+ boosts oil output by slower pace than previous months

Summary by Ground News
The OPEC oil cartel and its allies decided Wednesday to boost production in September by a much slower pace than in previous months at a time of high oil prices and unstable energy supplies exacerbated by the war Russia has waged on Ukraine. The OPEC+ coalition said it will increase output to 100,000 barrels a day next month after raising it by by 648,000 barrels per day in July and August. It was OPEC’s first meeting since U.S. President Joe Biden visited Saudi Arabia last month, aiming to improve relations and hoping to encourage more oil production from the cartel.

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