OPEC, Russia Agree to Keep Boosting Oil Output, Sending Prices Lower

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OPEC and a group of Russia-led oil producers have agreed to stick to their plan to gradually pump more crude, according to people familiar with the deal, despite worries about demand following the identification of a new Covid-19 variant.

The Organization of the Petroleum Exporting Countries and allied producers led by Russia—which together call themselves OPEC+—said they would raise their collective production by another 400,000 barrels a day in January, people familiar with the matter said. The group agreed earlier this year to boost output in such increments each month, until production reaches pre-pandemic levels.

OPEC, Russia Agree to Keep Boosting Oil Output, Sending Prices Lower Source link OPEC, Russia Agree to Keep Boosting Oil Output, Sending Prices Lower

The post OPEC, Russia Agree to Keep Boosting Oil Output, Sending Prices Lower appeared first on Eminetra.

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