OPEC+ Seen Sticking To Current Production Arrangement ...Middle East

OILPRICE - Economy
OPEC+ Seen Sticking To Current Production Arrangement
source : OILPRICE ( Middle East ) () 24
OPEC+ will most likely continue boosting oil production at the current rate of around 400,000 bpd at its next meeting. Citing unnamed sources close to the extended cartel, Reuters reported that OPEC will likely shake hands on expanding total output by some 432,000 bpd when it meet on Friday, May 6, with the increase to take effect in June. The production increase plan has been in place since last year when OPEC and its non-member partners, led by Russia, agreed to gradually restore their combined oil production to pre-pandemic levels. However,…

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