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International Business Times
International Business Times
Business

OPEC+ Meets As Oil Output Hike Looms

OPEC Oil Donald Trump United States Saudi Arabia Russia
Eight key OPEC+ members are expected to accelerate oil production increases (Credit: AFP)

Ministers of the OPEC+ oil alliance, led by Saudi Arabia and Russia, discussed production on Wednesday as another hike looms despite falling prices.

The 22-nation group began a series of cuts in 2022 to prop up crude prices, but Saudi Arabia, Russia and six other members surprised markets recently by sharply raising output for May and June.

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