OPEC+ Adopts Plan for 2027 Baselines

published:29/05/2025 02:19 GMT

OPEC+ has agreed to establish a mechanism for setting baselines for its 2027 oil production, while OPEC+ sources said that separate talks on Saturday could agree a further accelerated oil output hike for July. The group, which includes the Organisation of the Petroleum Exporting Countries and allies such as Russia, has been discussing new baselines – production levels from which each member makes cuts or increases – for the last few years. Baselines and quotas are controversial because some...More