OPEC has agreed to pump more crude oil over the next two months as Russian production begins to drop because of Western sanctions.
The oil exporters’ cartel said it would increase supply by 648,000 barrels per day in July and August.
This is 200,000 more barrels per day more than scheduled under a supply agreement with other producers, including Russia, known as OPEC+.
The Biden administration welcomed the decision from OPEC+ and highlighted Saudi Arabia’s role as the group’s largest producer in achieving consensus.
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Edited by Jesus Chan
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