Skip to main content

Advertisement

Advertisement

Business

OPEC+ could add about 2 million bpd oil to market in August-December, says source

OPEC+ is moving towards adding around 2 million barrels per day (bpd) of oil to the market between August and December as it eases back on its output curbs, an OPEC+ source told Reuters.

OPEC+ could add about 2 million bpd oil to market in August-December, says source

FILE PHOTO: A 3D printed oil pump jack is seen in front of displayed stock graph and Opec logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/Illustration

LONDON: OPEC+ is moving towards adding around 2 million barrels per day (bpd) of oil to the market between August and December as it eases back on its output curbs, an OPEC+ source told Reuters.

The source said monthly increases would amount to less than 0.5 million bpd.

The first source and another OPEC+ source said Saudi Arabia and Russia, top producers in the OPEC+ alliance, have a preliminary agreement on a deal raising oil output from August.

(Reporting by OPEC team; Writing by Dmitry Zhdannikov; Editing by Edmund Blair)

Source: Reuters

Advertisement

Also worth reading

Advertisement