OPEC+ alliance agrees to production increase
Pressure on Saudi Arabia, Russia and other major oil producers has boosted production amid high prices.
An alliance of major oil exporters announced a big increase in production today.
The Organization of Petroleum Exporting Countries (OPEC) and its allies agreed to boost production by 648,000 barrels a day for July and August. The so-called OPEC+ alliance has been increasing production by 432,000 barrels a day in previous recent months, according Bloomberg.
