Kaombo Norte floating oil platform is seen from a helicopter off the coast of Angola, on Nov 8, 2018. (Photo: Reuters)
Opec+ will increase the size of its oil-supply hikes by about 50%, bowing to months of pressure from major consumers including the United States to help ease the pain of high energy prices.
Ministers agreed on Thursday that the group should add 648,000 barrels a day of oil to the market in July and August, up from 432,000 barrels a day in recent months, delegates said, asking not to be named because the discussions were private.
The increase would be divided proportionally between members in the usual way, delegates said. Countries that have been unable to raise production, such as Angola, Nigeria and most…
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