Algeria confirms OPEC+ plans to increase oil production
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OPEC+ members are not currently discussing a possible renegotiation of the October 5 deal to cut oil production. This was told by the Minister of Energy and Mines of Algeria (OPEC member state since 1969) Mohammed Arkab.
“OPEC + decisions are made in conditions of absolute transparency at meetings … there are no discussions on revising the OPEC + decision to reduce oil production on October 5,” he said. Reuters minister’s words.
In his opinion, “speculation” on this topic can lead to instability in the energy market.
Yesterday, November 21, representatives of UAE and Saudi Arabia. Earlier, The Wall Street Journal wrote that Saudi Arabia and other members of OPEC + discussed the issue of increasing production to 500 thousand barrels per day.
On October 5, the countries of the organization agreed to reduce daily oil production by 2 million barrels per day. This decision was criticized United States as meeting the interests of Russia and contrary to market conditions.
Read more about the decision of OPEC + – in the material “Kommersant” OPEC+ dried up its sleeves.
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