An Emirati man stands in front of a pipeline at the oil terminal of Fujairah during the inauguration ceremony of a dock for supertankers on September 21, 2016.
Karim Sahib | AFP | Getty Images
OPEC and its oil-producing allies have agreed to continue with their current output plan, deciding against loosening the taps in the face of multi-year highs in crude prices and U.S. pressure to help cool the market.
The group, known as OPEC+, will rollover its August program to gradually increase oil production by 400,000 barrels per day each month.
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