OPEC+ agrees to small oil production increase

US President Joe Biden may have been hoping for a larger boost in production.
Saudi Energy Minister Abdulaziz bin Salman bin Abdulaziz Al Saud addresses the 29th annual Middle East Petroleum and Gas Conference.
Saudi Energy Minister Abdulaziz bin Salman bin Abdulaziz Al Saud addresses the 29th annual Middle East Petroleum and Gas conference in the Bahraini capital Manama, on May 16, 2022. - MAZEN MAHDI/AFP via Getty Images
Al Monitor: The Pulse of the Middle East
Al-Monitor Staff

The Organization of the Petroleum Exporting Countries (OPEC) and Russia agreed to a relatively small oil production increase today. 

The so-called OPEC+ alliance endorsed a production increase of 100,000 barrels per day for the month of September, OPEC said in a press release. 

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