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[size=38]OPEC + Cuts Its Forecast For A Surplus In The Oil Market In 2022
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2022/02/27 | 3:00 PM
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A report by the Technical Committee of the OPEC Plus group said today, Sunday, that the bloc revised its forecast for the surplus in the oil market this year by reducing by about 200 thousand barrels per day to reach 1.1 million barrels per day.
The data contained in the report of the Joint Technical Committee, which is being prepared for the ministers of the OPEC Plus group, shows that stocks in the developed countries were 62 million barrels less than their average in the period 2015-2019 at the end of the year.
OECD stocks were 20 million barrels above the previous forecast average.
The ministers of member states of the Organization of Petroleum Exporting Countries (OPEC) and its allies, led by Russia, will meet in the OPEC Plus group on the second of next March to discuss oil policy, which is expected to remain on its approach by approving an increase of 400,000 barrels per day during the month of April. finished/25h
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