Reuters: OPEC+ not going to cut oil production anytime soon
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The OPEC+ alliance does not intend to cut oil production in the near future. At the same time, there is a possibility that such a decision can be made if oil from Iran returns to the world market. This was reported Reuters citing nine sources in the market.
The agency notes that oil from Iran may return to the world market if Iran and the West conclude a nuclear deal.
The day before in OPEC+ reportedthat they are ready to cut oil production if oil from Iran, which is now under sanctions, is again traded on the world market, causing the oil surplus to rise.
The largest oil producers included in the OPEC + deal were able to increase production in September by only 100 thousand barrels per day due to a lack of free capacity. Under the terms of the deal, Russia should increase production to 11 million barrels per day, but this level will be extremely difficult to achieve, given the problems with exports due to sanctions.
More details – in the publication “Kommersant” “You can’t get a hundred a day”.
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