World: OPEC will increase oil production

The Organization of Petroleum Exporting Countries has agreed to increase oil production. At a virtual summit, 8 countries in the organization announced that they had agreed to increase oil production by 137 thousand barrels per day by October. They also said that the decision was made based on the stability of the global economic outlook and the current solid market fundamentals. Finally, they emphasized that the increase will mark the end of voluntary cuts of 2.2 million barrels per day.

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