Saudi Arabia, Russia and five other OPEC+ countries on Sunday increased their oil production quota in a move seen as reinforcing continuity within the producers’ alliance after the United Arab Emirates’ shock withdrawal, AFP reported.The seven major producers will add “188,000 barrels per day” to their combined production quota for June, according to a statement issued by OPEC+.
The increase is part of “their collective commitment to support oil market stability,” the group said.The statement did not mention the United Arab Emirates, which exited the body earlier this week.
