The OPEC + group has agreed to adhere to its current policy of gradually increasing oil production, which was approved in July, a source was quoted as saying by Reuters.
Earlier today, the alliance’s monitoring committee, which brings together OPEC members and other major black producers gold like Russia, recommended that the plan to restore supply be maintained, BTA reported.
According to the July decision, OPEC + countries will increase oil production by 400,000 barrels per day from August to September 2022. This will allow them to return to the market the volumes reduced from May 2020. The report of the OPEC + technical committee, quoted by TASS, states that the supply deficit this year will not be as significant as previously expected. It will be only 900,000 barrels per day, not 1.4 million barrels per day. In 2022, a surplus of 2.5 million barrels per day on the market is expected.
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