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Opec+ announces sharp increase in July oil production
The Island
|June 02, 2025
Dawn News: Saudi Arabia, Russia and six other key Opec+ members announced on Saturday a huge increase in crude production for July.
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They will produce an additional 411,000 barrels a day — the same target set for May and then June — according to a statement, which is more than three times greater than the group had previously planned.
In recent years the 22-nation group had agreed to daily reductions of 2.2 million barrels with the aim of boosting prices.
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