Opec satisfies recovering demand

Opec and its allies’ next move, however, remains mired in uncertainty.

NEW YORK: Opec boosted oil production last month by the most in a year, in line with plans to meet rising demand as countries recover from the pandemic.

The Organisation of Petroleum Exporting Countries (Opec) production rose by 855, 000 barrels a day in June to 26.47 million a day, with just over half the increase coming from group leader Saudi Arabia, Bloomberg survey showed.