AMN
The Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC oil producers have agreed to jointly increase the oil production.
The meeting in Vienna between OPEC and non-OPEC oil producers including Russia yesterday decided to stick to 100 per cent conformity of the oil production cap set in the meeting in 2016 in which the agreement to cut oil output by a total of 1.8 million barrels per day had been reached.
The OPEC, however, did not give the details of how it would split the production increase. The agreement would be implemented in July.