Crude oil prices in focus: OPEC+ increases output by 206,000 bpd amid Middle East tensions
OPEC+ on Sunday announced a higher-than-expected increase in oil production quotas, days after US and Israeli strikes on Tehran triggered Iranian retaliation across the Middle East, according to AFP.
The oil producers’ group, which includes Saudi Arabia, Russia and several Gulf states affected by the escalation, said it had “agreed on a production adjustment of 206 thousand barrels per day”.
