The plunge in oil prices on Friday presented a different layer of complexity for the Organization of the Petroleum Exporting Countries and allies. In a surprising move on Thursday, the cartel decided to raise crude oil production by 411,

Eight key OPEC+ producers on Thuesday agreed to raise combined crude oil output by 411,000 barrels per day, speeding up the pace of their scheduled hikes and pushing down oil prices.

Eight OPEC+ countries unexpectedly agreed on Thursday to advance their plan to phase out oil output cuts by increasing output by 411,000 barrels per day in May, a decision that prompted oil prices to extend earlier sharp losses.