Skip to Content
AP National Business

OPEC sticks to plan of gradual output hikes as crude soars

<i></i><br/>
KMIZ

By
Published 12:31 PM

By CATHY BUSSEWITZ
AP Business Writer

NEW YORK (AP) — The leaders of OPEC and its oil-producing allies are sticking with their plan to gradually increase oil production while Russia’s invasion of Ukraine rattles markets, reshapes alliances, kills civilians and sends the price of crude skyrocketing. The OPEC+ coalition of oil producers chose to increase oil production by 400,000 barrels per day in April. Since July, the coalition made up of OPEC members led by Saudi Arabia and non-cartel members led by Russia has been adding that amount of oil each month to gradually restore deep cuts to production made early in the coronavirus pandemic.

Article Topic Follows: AP National Business

Jump to comments ↓

Associated Press

BE PART OF THE CONVERSATION

ABC 17 News is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content