LONDON- The Organization of the Petroleum Exporting Countries (OPEC) and allies, known as OPEC+, agreed on April 1 to boost oil output in May, June and July as part of a plan to gradually taper record output curbs made last year.OPEC+ cut supply by 9.7 million barrels per day from May 1, 2020 as demand collapsed due to the pandemic. After last week's deal, the planned reductions stand at 6.55 million bpd in May, 6.2 million bpd in June and 5.759 million bpd in July.For the list of individual countries' output targets, click on the link below. The table does not include Saudi Arabia's voluntary 1 million bpd cut, which Riyadh plans to unwind in May, June and July.(Reporting by Alex Lawler; editing by Jason Neely) ((email@example.com; +44 207 542 4087; Reuters Messaging: firstname.lastname@example.org)) ...read more...
SectorOil & Gas