OPEC+ members agree to ramp up output by 400,000 barrels per day amid soaring oil prices

21.07.2021

The Organisation of the Petroleum Exporting Countries (OPEC) and its allies, the latter including Russia, Kazakhstan and Azerbaijan, have agreed to boost oil supply starting in August, since prices have reached a three-year high as economies recover from the Covid-19 pandemic.

The cartel members and their allies, including Russia, Mexico, and...