An OPEC branded flag sits on a table ahead of the 169th Organization of Petroleum Exporting Countries (OPEC) meeting in Vienna, Austria. PHOTO: Akos Stiller/Bloomberg via Getty Images
OPEC members have agreed on a combined increase in crude oil output of one million barrels per day, the oil minister of the cartel’s kingpin Saudi Arabia said Friday.
“I am pleased that at the end of the day we reconciled around the one million figure that we have been talking about,” said Khaled al-Faleh after a meeting of the Organization of the Petroleum Exporting Countries.
Support for the increase, which had been proposed by Saudi Arabia against objections from Iran, was unanimous, he said.
Saudi Arabia, backed by non-member Russia, has argued that it is time to raise production in…
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