Seven OPEC Countries Agree to 188K Bpd Production Adjustment, Next Meeting Aug 2
OPEC nations including Saudi Arabia and Russia will adjust output by 188,000 barrels per day, reaffirming their commitment to market stability. The next meeting is scheduled for August 2.
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Seven major OPEC+ participants — Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman — have agreed to implement a combined production adjustment of 188,000 barrels per day. The move comes as part of their ongoing effort to maintain market balance.
The group reiterated its dedication to global oil market stability. The next OPEC+ meeting has been set for August 2, where further policy decisions may be discussed.
Source: First Squawk