Mumbai, March 4 -- The members of the OPEC+ oil cartel announced an increase to production quotas on Sunday following US and Israeli strikes on Iran. The eight-member V8 (Voluntary Eight) group in the alliance, which includes key oil producers Saudi Arabia and Russia - as well as several Gulf states bearing the brunt of Tehran's missile strikes - said they had agreed a production adjustment of 206,000 barrels per day (bpd). This adjustment will be implemented in April, OPEC+ said in a statement.
Published by HT Digital Content Services with permission from Capital Market....