Monday, June 16, 2025
OPEC+ sees tighter oil market despite output hike- oil and gas 360

OPEC+ sees tighter oil market despite output hike

Reuters LONDON/MOSCOW – OPEC+, which on Tuesday rubber stamped an earlier decision to go ahead with production increases over the next two months, now sees the oil market tightening further than previously anticipated. Under their existing plan, the Organization of the Petroleum Exporting Countries and allies led by Russia, known as OPEC+, will add 700,000 barrels per day (bpd) in