The OPEC+ meeting ended in a relatively quick fashion on Thursday, agreeing to boost production by 648,000 bpd in August, according to Energy Intel’s Chief OPEC Correspondent, Amena Bakr. The Joint Ministerial Monitoring Committee meeting (JMMC), which began at 13:00 Vienna time (7:30 a.m. ET), was followed by the full OPEC+ ministerial meeting.
The latter was not expected to offer any surprise, with the majority of analysts predicting that the group would rubberstamp the quota increase that it had previously set for August of 648,000 bpd.…Oil Prices Jump As OPEC+ Confirms 648,000 Bpd Production Hike
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