#energy #OPEC #oil #production
A group of countries known as OPEC Plus, which includes Russia among others, has reached an agreement to increase oil production in July. This decision was made by the voluntary coalition of eight nations, including Saudi Arabia and Russia, who are part of OPEC Plus.
The move to boost oil production comes as a response to the increasing global demand for oil and aims to stabilize the market. The decision was made during a meeting held on the 31st of the month, where representatives discussed the current state of the oil market and agreed on the need to ramp up production.
Ramesh Khatri, a representative of Kansai Nepal News, expressed his views on this development, stating that the decision to increase oil production is a strategic move to meet the rising demand for oil globally. He highlighted the importance of maintaining a balance between supply and demand to ensure stability in the oil market and to support economic growth across the globe.
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Author: MAYA | HARUTO
Posted at: June 1, 2025 12:00 am
