{"id":8959,"date":"2021-04-02T13:04:27","date_gmt":"2021-04-02T05:04:27","guid":{"rendered":"https:\/\/newmalaysiatimes.com\/?p=8959"},"modified":"2021-04-02T13:04:28","modified_gmt":"2021-04-02T05:04:28","slug":"opec-agrees-to-increase-oil-production-for-next-three-months","status":"publish","type":"post","link":"https:\/\/newmalaysiatimes.com\/?p=8959","title":{"rendered":"OPEC+ agrees to increase oil production for next three months"},"content":{"rendered":"\n<p>RIYADH, April 2&nbsp;&#8212; The Organisation of the Petroleum Exporting Countries (OPEC) and non-OPEC countries, known as OPEC Plus, agreed in an online meeting on Thursday to increase oil production for May, June and July 2021.<\/p>\n\n\n\n<p>The meeting was co-chaired by Saudi Arabia&#8217;s Energy Minister Abdulaziz bin Salman and Russia Deputy Prime Minister Alexander Novak, reported Xinhua news agency according to a statement by OPEC.<\/p>\n\n\n\n<p>The decision was made based on the improvements in the market supported by global vaccination programmes and stimulus packages in key economies.<\/p>\n\n\n\n<div class=\"wp-block-image is-style-rounded\"><figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/04\/Screen-Shot-2021-04-02-at-13.01.32.png\" alt=\"opec\" class=\"wp-image-8960\" width=\"574\" height=\"356\" srcset=\"https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/04\/Screen-Shot-2021-04-02-at-13.01.32.png 589w, https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/04\/Screen-Shot-2021-04-02-at-13.01.32-300x186.png 300w, https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/04\/Screen-Shot-2021-04-02-at-13.01.32-161x100.png 161w, https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/04\/Screen-Shot-2021-04-02-at-13.01.32-350x217.png 350w\" sizes=\"auto, (max-width: 574px) 100vw, 574px\" \/><\/figure><\/div>\n\n\n\n<p>Further meetings will be held to assess market conditions and decide on production adjustments, with each adjustment no more than 500,000 barrels per day (bpd).<\/p>\n\n\n\n<p>The OPEC plus agreed in April 2020 to slash oil output by 9.7 million bpd as the COVID-19 pandemic ravaged demand, and decided later to extend the cut but with less amount until the end of last year.<\/p>\n\n\n\n<p>&#8212; <a href=\"https:\/\/www.bernama.com\/en\/world\/news.php?id=1948103\">BERNAMA<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>RIYADH, April 2&nbsp;&#8212; The Organisation of the Petroleum Exporting Countries (OPEC) and non-OPEC countries, known&#8230;<\/p>\n","protected":false},"author":1,"featured_media":8960,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[59],"tags":[],"class_list":["post-8959","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world"],"featured_image_urls":{"full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/04\/Screen-Shot-2021-04-02-at-13.01.32.png",589,366,false],"thumbnail":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/04\/Screen-Shot-2021-04-02-at-13.01.32-150x150.png",150,150,true],"medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/04\/Screen-Shot-2021-04-02-at-13.01.32-300x186.png",300,186,true],"medium_large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/04\/Screen-Shot-2021-04-02-at-13.01.32.png",589,366,false],"large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/04\/Screen-Shot-2021-04-02-at-13.01.32.png",589,366,false],"1536x1536":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/04\/Screen-Shot-2021-04-02-at-13.01.32.png",589,366,false],"2048x2048":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/04\/Screen-Shot-2021-04-02-at-13.01.32.png",589,366,false],"newsium-slider-full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/04\/Screen-Shot-2021-04-02-at-13.01.32.png",589,366,false],"newsium-featured":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/04\/Screen-Shot-2021-04-02-at-13.01.32.png",589,366,false],"newsium-medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/04\/Screen-Shot-2021-04-02-at-13.01.32.png",589,366,false]},"author_info":{"info":["Editor"]},"category_info":"<a href=\"https:\/\/newmalaysiatimes.com\/?cat=59\" rel=\"category\">World<\/a>","tag_info":"World","comment_count":"0","_links":{"self":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/8959","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8959"}],"version-history":[{"count":1,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/8959\/revisions"}],"predecessor-version":[{"id":8961,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/8959\/revisions\/8961"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/media\/8960"}],"wp:attachment":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8959"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8959"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8959"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}