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▶️ JUST IN: Seven OPEC+ countries have agreement in principle to raise oil output quotas for June by about 188,000 bpd.
After the UAE left quit OPEC+, the remaining 7 countries, namely Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan, Oman, are meeting this Sunday to hike June quotas by ~188,000 bpd.
That's almost exactly April's 206,000 bpd hike minus the UAE's ~18,000 bpd share.