OPEC Denies Reports of Increased Oil Production

OPEC dismissed media reports claiming the group of eight oil-producing countries would raise output by 500,000 barrels per day. The organization labeled these reports as inaccurate and misleading in a post on X. The meeting on Sunday will proceed without any planned increase in production levels.

On Tuesday, OPEC refuted media analyses that speculated about a potential increase in oil production by 500,000 barrels per day.

The organization, which consists of a critical group of eight oil-producing nations, firmly denied these reports as "wholly inaccurate and misleading."

The forthcoming Sunday meeting, therefore, does not include an agenda item to raise production levels, contrary to the claims circulating in the news.

(With inputs from agencies.)