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Opec+ agrees small oil output rise despite Biden plea

OPEC Joe Biden Oil Vienna Saudi Arabia United States bin Salman Edward Moya Emmanuel Macron

US President Joe Biden made a controversial trip to Saudi Arabia in July in part to convince Riyadh to loosen oil production taps.

VIENNA: The Opec+ oil cartel agreed to a small increase in production Wednesday, likely disappointing US President Joe Biden who lobbied for a big hike to tame soaring energy prices on a recent trip to Saudi Arabia.

The cartel led by Saudi Arabia and Russia decided to raise production by 100,000 barrels per day for September, much lower than previous increases, according to a statement issued after a ministerial videoconference.

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