Experts polled by Bloomberg allowed OPEC+ to maintain oil production quotas
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OPEC+ believes that the best response to the growing uncertainty in the oil market will be to maintain production quotas, the agency reports. Bloomberg ahead of the meeting of the Ministerial Monitoring Committee scheduled for Monday, April 3.
The agency notes that due to the banking crisis, oil futures on the London Stock Exchange fell to a 15-month low of about $70 per barrel. In this regard, “rumors arose” that Saudi Arabia and its partners could cut production, but so far OPEC + is showing all signs of maintaining quotas, writes Bloomberg.
1st of February Interfax citing sources, he reported that the ministers of the OPEC+ Monitoring Committee did not recommend changing oil production quotas. On February 10, Deputy Prime Minister Alexander Novak announced that Russia would cut oil production by 500,000 barrels per day in March.
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