Opec approval of minuscule oil output rise is insult to Biden, say analysts

Increase in production by 100,000 barrels a day described as so little as to be meaningless'

The Opec cartel and its allies have agreed to increase the production of crude by just 100,000 barrels a day, in what analysts have described as an insult directed at the US president, Joe Biden.

Ministers from the 13-member group and its allies, led by Russia and known as Opec+, met on Thursday at a closed-door video meeting and rubber-stamped an increase in output that is the equivalent of 86 seconds, or 0.1%, of global oil demand.