Opec may increase production

Oil producers’ consortium Opec may pump more oil into the market in an effort to cut prices, secretary Rilwanu Lukman said this week. Following an increase in production in March, when prices fell to around $23 per barrel, they have gone back up to $28. Opec, which accounts for 40% of the world’s production, will […]

Oil producers’ consortium Opec may pump more oil into the market in an effort to cut prices, secretary Rilwanu Lukman said this week. Following an increase in production in March, when prices fell to around $23 per barrel, they have gone back up to $28. Opec, which accounts for 40% of the world’s production, will decide at its 21 June meeting whether to raise production volumes.

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