A group of some of the world’s most powerful oil producers agreed on Wednesday to a further planned increase in output, even as crude prices trade near record levels amid geopolitical tensions.

OPEC and non-OPEC partners, an influential energy alliance known as OPEC+, swiftly decided to green-light the return of 400,000 barrels per day for March.

The move, widely expected by energy analysts, marks a continuation of the group’s strategy to gradually reopen the taps.

Readers Bureau

Edited by Jesus Chan

Do you want to add feedback to this story? Please add a comment in the box below or send an email to info@thereadersbureau.com,  Call us at 201-500-7715