Source: OPEC+ to raise oil output by 432,000 bpd in May

MOSCOW, Mar 31 (PRIME) -- The OPEC+ alliance will raise its combined oil production by the planned amount of 432,000 barrels per day (bpd) in May, a source in one of the delegations told PRIME on Thursday.

“It was decided to raise production in May by 432,000 barrels per day,” the source said.

Another source said earlier that the Saudi Arabian energy minister had said in 2021 that the increase of May 2022 would be higher than a 400,000 barrel growth of the previous months due to adjustment of the reference figure and the alliance’s decision to soften output restrictions in September.

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