Oil Producers Set To Pump More Oil

The world’s largest oil producers have agreed to increase the production of oil marginally in a bid to help ease high prices.

Members of the oil producers’ group Opec+ – which includes Russia – today agreed to add 100,000 more barrels per day to the market from September.

The latest production output increase is at a much slower pace than in recent months.

The decision is a blow to leaders who had called for production to be ramped up.

Crude has consistently traded at more than $100 a barrel since February, driving up the cost of living in many countries.

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Edited by Jesus Chan

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