The New Paper

April 2, 2021

OPEC and allies agree to increase production

OPEC and other oil-producing nations agreed to gradually increase oil production by ~2M barrels per day between May and July, citing ongoing coronavirus vaccination programs and global economic stimulus packages. The group cut oil production last year amid a coronavirus-driven decline in demand.
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This story is from the April 2, 2021 edition of The New Paper – a clear, concise daily briefing that makes fact-first news easy to consume. Try it today.