OPEC+ Ratifies Group-Wide Quotas Before July Output Decision

OPEC+ ratified group-wide production quotas for this year and next, ahead of a decision by eight key members at the weekend whether to bolster output again in July.

The Organization of the Petroleum Exporting Countries and its partners reaffirmed their longer-term targets for 2025 and 2026, which underpin its current supply restraints, according to a statement after a video conference on Wednesday.