7/4, 5:53 PM (Source: TeleTrader)
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Johnson urges OPEC+ to produce more oil

United Kingdom Prime Minister Boris Johnson stated on Monday that OPEC+ must increase oil production in order to combat growing living costs and lower the prices, as supply concerns hit the market.

Speaking before the parliament, Johnson stated that "there is no doubt that we are going to need a lot more OPEC+ oil," explaining that the country has strong ties with Saudi Arabia, one of the alliance's largest members, which accounts for a large portion of the organization's oil production. The prime minister prompted its Western allies to strengthen their relations with the Middle Eastern country.

Last month, London reported historically high petrol and diesel prices.

Baha Breaking News (BBN) / AB