Eight OPEC+ countries meeting on Sunday agreed on a bump in oil production for September by 547,000 barrels per day.
Breakdown
- OPEC+ will boost oil production by 548,000 barrels per day from September.
- The increase could help reduce gas prices this year. 9s
- OPEC+ had previously limited production to support oil prices. 13s
- The decision follows calls from US President Donald Trump to increase output. 19s
- The move comes amid US efforts to pressure Russia over its invasion of Ukraine. 23s