OPEC+ monitoring recommends oil production increase by 650,000 barrels/day in July
The OPEC+ joint ministerial monitoring committee (JMMC) recommended OPEC+ members to increase oil production in July by 650,000 barrels per day, a source in one of delegations told TASS.
"650,000 barrels per day for July," the source said.
OPEC+ countries were consistently scaling up oil production by 400,000 barrels per day on a monthly basis since August 2021. The plan was revised at the meeting in late March - participants in the OPEC+ agreements are increasing production by 432,000 barrels daily per month because of new baseline production levels for certain countries.