On April 5, local time, eight member countries of the OPEC+ alliance, which includes OPEC and non-OPEC oil producers, convened a meeting and decided to increase crude oil production by 206,000 barrels per day starting in May 2026. This move continues the previously established plan for a gradual phase-out of voluntary production cuts.
The participating countries in the meeting included Saudi Arabia, Russia, the United Arab Emirates, Iraq, Kuwait, Kazakhstan, Algeria, and Oman. No other adjustments were made to the current production policy during the meeting.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments