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France 24

Business

Oil producers discuss production levels as prices hit seven-year high

United States OPEC+

BUSINESS DAILY © FRANCE 24

Ministers from the OPEC+ group of oil-producing countries are meeting on Wednesday to discuss supply levels, as prices have soared to their highest since 2014. The 23 states are responsible for more than 40 percent of global oil production. Prices have jumped in recent months, as supply has failed to keep pace with demand. OPEC+ has been gradually increasing production since July, but the group is coming under pressure from countries including the US to go further. We take a closer look.

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