OPEC+ Announces 206,000 Barrels Daily Output Increase

OPEC+ said eight member countries agreed to increase oil production by 206,000 barrels per day.

A statement noted that the adjustment comes as part of efforts to support oil market stability.

It added that the increase is part of a previously announced 1.65 million barrels per day plan from April 2023.

The adjustment will be implemented next month in 2026.

The group said it will continue to closely monitor market conditions.

It stressed maintaining flexibility in adjusting voluntary production levels.