00:00The Organization of Petroleum Exporting Countries has agreed to increase oil production.
00:06At a virtual summit, eight countries in the organization announced that they had agreed
00:10to increase oil production by 137,000 barrels per day, by October.
00:17They also said that the decision was made based on the stability of the global economic
00:20outlook and the current solid market fundamentals.
00:23Finally, they emphasized that the increase will mark the end of voluntary cuts of 2.2
00:28million barrels per day.
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