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Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman have decided to increase oil production.
According to Xinhua News Agency, the Organization of the Petroleum Exporting Countries (OPEC) said in a statement on the 5th that Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman—eight major oil-producing countries—have decided to increase crude oil production by 206k barrels per day on average in May.
【Source: Southeast Morning News】