Latest news and articles about oil production increase from NEX English
OPEC+ has announced an increase in oil production quotas by <strong>206,000 barrels per day</strong> starting May 2023, amidst ongoing disruptions in the Strait of Hormuz due to the US-Iran conflict. This decision comes at a critical time for the oil market.
OPEC and its allies, known as OPEC+, announced an increase in oil production by <strong>206,000 barrels per day</strong> starting in May. This decision comes amid rising global crises in the energy sector.
The OPEC+ group is preparing for a meeting next Sunday to discuss the possibility of increasing oil production. This move comes amid rapid changes in global energy markets as member countries seek to adapt to rising oil demand.