Opec+ Plans To Increase Oil Production By 648K Barrels Per Day

Opec+ decided to keep its plan to increase production by 648,000 oil barrels per day during August 2022.

This came during the organisation’s meeting last week in Vienna, during which the organisation discussed pumping crude oil at the same pace, after agreeing at the beginning of June 2022 to increase production.

At its last meeting, OPEC+ decided to increase its production by 648,000 barrels per day, compared to 432,000 barrels previously.

France again called upon the producing countries at an earlier time to increase quantity “exceptionally” in order to limit the rise in fuel prices caused by the Ukrainian crisis.