OPEC+ Surprises Markets with June Output Hike — Russia to Feel the Pain
OPEC+ has agreed to raise oil output by 411,000 barrels per day in June, continuing a strategy shift aimed at disciplining quota violators and responding to global calls for lower fuel prices. The decision mirrors a similar production hike for May and signals the bloc’s growing willingness to tolerate lower oil prices, even at the expense of short-term revenues. Led by Saudi Arabia and Russia, the move has caused oil prices to fall to around $61 a barrel— near four-year lows—
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