Eight OPEC+ member countries on Saturday announced a sharp increase in oil production for the month of June at the risk of driving down already very low prices.
Saudi Arabia, along with Russia and six other members of the oil cartel, will implement a production adjustment of 411,000 barrels a day out of the ground, as in May, according to a OPEC+ statement, whereas the initial plan called for an increase of just 137,000 barrels.
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