OPEC boosting oil production next month, wary of second COVID-19 wave

The Organization of the Petroleum Exporting Countries and its allies, also known as OPEC+, have agreed to curb oil supply from August as the global economy recovers from the COVID-19 pandemic.

It is worth saying straight from the off that OPEC+ has been cutting oil production since May by 9.7 million barrels per day, or 10 per cent of global supply after the virus destroyed a third of global demand.

Continue reading

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Powered by WordPress.com.

Up ↑

%d bloggers like this: