Oil and Gas backbone exporting countries like Saudi Arabia, Iran, Russia e.t.c, have endorsed the decision of the Organization of Petroleum Exporting countries of its policy of a step by step unfold of oil production among member states.
This comes after the speedy increase witnessed recently in crude oil, totaling over $80 a barrel, a welcoming discovery in the volatility of oil and gas prices. They are of the opinion that OPEC countries should adopt a gradual increase in oil production in spite of the pressure from many traders that oil production should move even more faster.
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