OPEC+ approves fourth oil output increase since Hormuz closure

By Udeme Akpan The Organisation of Petroleum Exporting Countries and its allies, also known as OPEC+, has approved the fourth oil output increase since the Hormuz closure crisis.The decision followed renewed commitments by Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman to support market stability. In a statement issued at the weekend, OPEC stated: […]

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