Hosting the conversation

Middle East Experience

Latest News

OPEC+ meets as oil output hike looms

Ministers of the OPEC+ oil alliance, led by Saudi Arabia and Russia, discussed production on Wednesday as another hike looms despite falling prices.The 22-nation group began a series of cuts in 2022 to prop up crude prices, but Saudi Arabia, Russia and six other members surprised markets recently by sharply raising output for May and June.The move has put pressure on prices, which have also fallen as investors worry that US President Donald Trump's tariff onslaught will cause an economic slump and weigh on demand.
Source: Al Monitor
Full Article: OPEC+ meets as oil output hike looms