Saudi-led talks to set oil output for rest of year ...Kuwait

The New Arab - News
Saudi-led talks to set oil output for rest of year
source : The New Arab ( Kuwait ) () 7
The OPEC+ group of oil-producing countries will meet on Thursday and - in discussions led by Saudi Arabia - are expected to agree to boost oil output in August to meet demand and limit recent price rises.  The cost of crude oil has surged back to levels last seen in October 2018, which would normally support arguments in favour of boosting production.  India, the world's third-largest consumer of crude, has urged OPEC+ to phase out its current regime of cuts and allow prices to fall as inflation pressure threatens to hobble economic recovery.  OPEC members led by Saudi Arabia are to confer on Thursday via a teleconference scheduled to begin at 11:00 GMT.  Four hours

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