OPEC+ to increase crude oil production to 548,000 barrels per day
OPEC+ announced its decision to increase crude oil production to 548,000 barrels per day starting August 1
Crude oil pumping will increase to 548,000 barrels per day starting August 1, according to a decision by OPEC+.
The measure was agreed upon by 22 members of the Saudi-led organization through a virtual meeting last Saturday, July 5.
In an official statement, OPEC+ announced the increase in crude oil production to 548,000 barrels per day, “a volume 137,000 bpd higher than the previous three months and what was expected in the markets.”
OPEC+ has dismissed criticism of the measure and justifies opening the taps to increased production by expressing optimism regarding supply and demand in the coming months.
M.Pino
Source: primicia
(Reference image: Gerhard Crous en Unsplash)
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