Members of the Organization of Petroleum Exporting Countries (OPEC+) on Sunday announced plans to increase oil production by over half a million barrels per day for September as concerns over supply disruptions persist.
The eight members of OPEC+ held a virtual meeting in response to U.S. pressure on some nations—such as India—to halt all Russian oil purchases in an additional move aimed at pressuring Moscow to end its ongoing conflict in Ukraine.
However, OPEC+ said it would increase output due to a healthy economy and low oil inventory, with oil prices remaining at a higher level even as output has increased from members.
Newsweek reached out to the White House and Department of Energy (DOE) by email on Sunday outside of normal business hours for comment.
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