OPEC+ to ramp up oil output quotas by 188,000 bpd in June

MINSK, 3 May (BelTA) - Seven key OPEC+ members (Russia, Saudi Arabia, Iraq, Kazakhstan, Kuwait, Oman and Algeria) have decided to ramp up oil output quotas by 188,000 barrels per day (bpd) in June over May, the group said in a statement, TASS reports.

The next OPEC+ meeting will take place on 7 June.

OPEC and OPEC+ are international associations of oil-producing countries established to regulate oil production volumes and stabilize prices on the global market.