Eight countries of OPEC+ increase production by 547,000 bpd
Listen to the article LONDON: Saudi Arabia, Russia and six key members of the OPEC+ alliance said on Sunday that they will increase production by 547,000 barrels a day in a move that analysts say they aim to regain market share amid resistant crude prices. Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman, along with the Saudi and Russians-with the nickname of volunteers (V8)-today about 41-42 million barrels a day, Analysts said it was unlikely that there would be a significant impact on prices, with Brent’s reference oil being sold today at about $ 70 a barrel. “The
