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OPEC+ Agrees to Boost Oil Output as Demand Roars Back



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OPEC and its Russia-led oil-producing allies agreed to unleash millions of barrels of bottled-up crude over the next two years, committing to restore all of the cuts they made at the start of the pandemic as economies pick up and crude demand recovers.
The group agreed to add new oil in modest installments over many months, underscoring the still-uncertain speed of the world’s economic recovery. Much of the developing world, where demand growth for oil had been strongest pre-pandemic, is still fighting surging Covid-19 cases.
The so-called Delta variant, first seen in India, is also being blamed for rising …

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