Saudi Arabia began to increase oil production

Saudi Arabia began to increase oil production after a two-year decline in production, which will give it an advantage over other OPEC members, pending the decision to increase production later this month, The Wall Street Journal writes. Officials said that in May the country increased production by about 100,000 barrels per day to 10 million barrels of oil per day. According to one representative, Saudi Arabia's plans to increase production this month by at least 100,000 barrels per day will help ease concerns in the market due to possible interruptions in the supply of oil from Iran. The issue of gradual increase of oil production will be considered on June 22-23 during the next meeting of OPEC + participants.

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