In a widely anticipated move, the members of OPEC and their nonmember partners agreed to increase output by 1 million barrels a day (BPD) starting in July, though the actual increase will be much smaller than the headline number. This accord is a step back from the initial plan to hold back about 1.8 million BPD through the end of the year to hasten the rebalance between supply and demand.
Opec Hikes Output, Which Is Actually Welcome News For Oil Stocks
newsfeedback@fool.com (Matthew DiLallo), The Motley Fool
Fri, 06/22/2018 - 10:09am
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