“The meeting emphasized the importance of market stability and balance in both crude and refined products,” OPEC + said in a statement.
oil production will increase by 648,000 barrels per day in July, compared with 432,000 barrels per day in previous months.
CONTEXT:
Extending sanctions on Russia over its invasion of Ukraine, EU leaders summit in Brussels on 30 May agreed immediately suspend two-thirds, but until the end of the year 90% of Russian oil exports to EU countries. However, for the time being, this embargo will not apply to Hungary, the Czech Republic and Slovakia.
The OPEC + format includes 13 Organization of the Petroleum Exporting Countries (OPEC) and a further 10 oil-producing countries, including Azerbaijan, Russia, Kazakhstan, Malaysia and Mexico.
–
Highlight text and press Ctrl+Enterto send the snippet to the editor!
Highlight text and press Report an error buttons to send the text to be edited!
–
–