OPEC+ alliance endorses slight increase in oil production

Saudi Arabia, the UAE and other have largely resisted US calls to boost production but settled on a marginal increase today.
STEFANI REYNOLDS/AFP via Getty Images
A vehicle drives past a Marathon gas station in Washington, DC, on March 31, 2022. - STEFANI REYNOLDS/AFP via Getty Images
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Adam Lucente
@Adam_Lucente

An alliance of world oil producers decided today to modestly boost production. 

The Organization of Petroleum Exporting Countries (OPEC) held its monthly meeting with non-OPEC allies today, including Russia. They agreed to increase collective oil production by 432,000 barrels a day, according to a press release. 

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