OPEC+ to Raise Oil Production Cap by 118,000 Bpd From July – Statement

MOSCOW (Sputnik) – The seven OPEC+ countries, namely Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman, have decided to increase the maximum level of oil production by 118,000 barrels per day (bpd) starting in July, according to an OPEC communique following the meeting on Sunday.