OPEC+ lauds oil price rebound as producers prepare to boost output

摘要

London—OPEC and its allies will ease their record production cuts on schedule in August after they helped pushed oil prices back above $40/b from their historic lows in April, ministers said July 15, confident that recovering global demand will soak up the additional supply. The 23-country OPEC+ coalition enacted a 9.7 million b/d production cut accord starting in May in response to the coronavirus crisis, but will roll the deal back to 7.7 million b/d in August through the end of the year, under the terms of the agreement laid out in April.