OPEC Reaches Deal to Raise Oil Output

Friday, June 22, 2018

OPEC agreed on Friday to raise oil production by around 1 million barrels per day from July for the group and its allies, an OPEC source said.

The output gain is nominal. The real increase will be smaller because several countries that recently underproduced oil will struggle to return to full quotas while other producers will not be allowed to fill the gap, OPEC sources have said.


(Reporting by OPEC newsroom; Editing by Dale Hudson)

Categories: Energy

Related Stories

Chevron CEO Hits Biden's Natural Gas Policies, Says Fuel is Crucial for AI

Allseas Hooks $180M Pipeline Installation Job Offshore Philippines

CNOOC Ticks Another Milestone in Ultra-Deepwater Gas Exploration

Current News

Foundation Laid for LORC’s New Bearings Test Bench for 25MW Wind Turbines

SLB and NVIDIA Collaboration to Scale Up Energy Industry-Specific AI

Iberdrola Inaugurates Second Largest Offshore Wind Farm in France

Upstream Electrification Could Cut 80% of O&G Production Emissions, Rystad Finds

Subscribe for OE Digital E‑News