Markets Are Thirsty for More Oil, OPEC+ and Oil Majors Say

Output increases from oil producer group OPEC+ are not leading to higher inventories, showing that markets are thirsty for more oil, ministers and executives from OPEC nations and bosses of Western oil majors said on Wednesday.

OPEC+, which pumps about half of the world's oil, has been curtailing production for several years to support the market. But it has reversed course this year to regain market share and as U.S. President Donald Trump demanded the group pump more to help keep a lid on gasoline prices...

 

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