The Saudi-led OPEC and its allies in the Moscow-led OPEC Plus, maintained their strategy of slightly increasing oil production, despite Western pressure to end the price volatility, as the war in Ukraine rocked the market.
The Organization of Petroleum Exporting Countries said in a statement on Thursday that it would boost output by 432,000 barrels per day in May, compared to 400,000 barrels a day during the previous months.
