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.
Edited by Jesus Chan
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