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

Norway's 2025 Oil Output Climbs to Highest Level Since 2009

UK Trade Body Challenges Government View on North Sea Gas Decline

Trump Calls Out California, UK Energy Deal

Current News

Ndungu Full-Field Starts Up Offshore Angola

Norway's 2025 Oil Output Climbs to Highest Level Since 2009

AKOFS Offshore Inks New Vessel Deal with Petrobras

UK Trade Body Challenges Government View on North Sea Gas Decline

Subscribe for OE Digital E‑News