On Sunday, it became clear that the oil cartel Opec + will go in to produce 400,000 more barrels of oil a day in August than they do now, it is stated in the official statement.
In July, production was cut by 5.8 million barrels of oil, and in August, the oil cartel will cut production by 5.4 million barrels a day.
Further towards Christmas, the cuts will be gradually reduced, and in total Opec + will produce two million more barrels a day over the New Year than they do today.
In overtime
The agreement between the 23 Opec + countries came after a week of negotiations in overtime. The oil cartel almost agreed to increase production at the first meeting, but the United Arab Emirates demanded a larger share of production, which created disagreement.
Both Kuwait, Iraq and the Emirates will receive higher quotas from May 2022.
Oil prices have risen sharply in recent times, and now North Sea oil costs $ 73.11 per barrel. fat.
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