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The major oil producers, led by Saudi Arabia, have agreed to increase production after the European Union announced a major reduction in Russian oil imports.
As sanctions against Russia have risen, oil prices have risen to record levels, while producers are being pressured to increase supplies.
Reuters reports that OPEC + has agreed to increase production by 648,000 barrels per day in July and the same in August.
EU leaders agreed on Monday to ban more than two-thirds of Russian oil imports, while the UK has already said it plans to phase out Russian oil imports by the end of 2022.
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