OPEC agrees modest hike in oil supply after Iran softens stance
OPEC agreed on Friday on a modest increase in oil production from July after its leader Saudi Arabia persuaded arch-rival Iran to cooperate amid calls from major consumers to help reduce the price of crude and avoid a supply shortage./ Two OPEC sources said the group agreed that OPEC and its allies led by Russia should increase production by about 1 million barrels per day (bpd), or 1 percent of global supply. The real increase will be smaller because several countries that recently underproduced oil will struggle to return to full quotas ...
Click
To Read Full Article