OPEC acknowledged that since Putin began to build up strength, oil markets have suffered.
U OPEC (Organization of Petroleum Exporting Countries) there is additional free capacity and the opportunity to increase oil production.
About this after the visit of US President Joe Biden to Saudi Arabia declared State Department Senior Energy Adviser Amos Gochstein, who accompanied the American leader on the trip.
“Just before the president announced his trip, just a few days before, OPEC+ made a major shift in its policy as well. They admitted that since Putin began to build strength, the markets have suffered. … increasing supply by more than 50% in July and August, and based on what we heard on the trip, I’m pretty confident that we’ll see a few more moves in the coming weeks,” Gochstein said.
The adviser did not voice how much free capacity there is in Saudi Arabia, the United Arab Emirates, Kuwait and other OPEC countries.
“But there is additional spare capacity, there is room to increase production. As we told producers in the United States, over the past few months and weeks we have had negotiations with OPEC. And I believe that there is still an opportunity to see additional steps,” he added. he.
You may also be interested in the news: