The OPEC+ oil cartel agreed on Sunday to again increase oil production quotas, while warning that repairing energy facilities, such as those damaged in the Middle East war, is "costly and takes a long time". The text did not mention the Iran war directly, but the conflict -- which has roiled global energy markets and caused prices to surge -- clearly weighed on the decision. The eight countries -- Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman -- praised members that managed to find alternate exports routes to deliver oil, "which have contributed to reducing market volatility".
Published at: 2026-04-05 21:30:01
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