OPEC+ Sets July Oil Output Quotas
OPEC+ reaffirmed its commitment to oil market stability during a virtual meeting on May 31, confirming a gradual return of 2.2 million barrels per day to the market.
Starting July, eight countries, including Kazakhstan, will increase output by 411,000 barrels per day.
Kazakhstan’s July quota is set at 1.514 million barrels per day. The group emphasized flexibility in adjusting future output based on market conditions. The next review meeting is scheduled for July 6.
Photo credit: ixbroker.com
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