
'Bombshell' OPEC+ Output Hike Hits Oil Price
This is Beirut, 09:35 - Reading : 2 minute(s)
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Oil prices slumped on Monday after eight OPEC+ members announced a sharp increase in production, while Asian stocks treaded water in thin trade with major markets closed. The output increase of 411,000 barrels a day announced by Saudi Arabia, Russia and six other members of the oil cartel on Saturday added to concerns about over-supply. The ...