Opec+ has decided on a production increase of 100,000 barrels per day in September during its Wednesday meeting, a production boost that analysts are considering a slap in the face to US President Joe Biden.
Biden, who has had frosty relations with Saudi Arabia, visited the country last month in an effort to clinch promises for an increase in oil production. In return, Opec+ agreed to the smallest production increase since 1986.
“(The increase) is so little as to be meaningless.
