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OPEC+ Deal Aims To Achieve Market Stability: Saudi Energy Minister

OIL

OPEC+ actions are aimed at achieving market stability amid the current unstable economic situation, Prince Abdulaziz bin Salman said according to Bloomberg.

  • OPEC+ members who are investing in energy will be allowed to increase their quotas in future OPEC+ arrangements, bin Salman added.
  • OPEC-13 crude oil output declined by 464kbpd on the month in May to 28.07mbpd, marking the first month OPEC’s voluntary supply cuts came into effect.

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