Oil production to be boosted in January by OPEC+ according to reports

An agreement has been made between the major oil producers of the world to boost their output by 500,000 barrels a day in the month of January. According to reports, the agreement was made even as demand has crashed due to the COVID-19 pandemic. With hopes of a COVID-19 vaccine helping push up prices of oil, Russia and some other countries pushed for an increase in production.