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“OPEC +” agrees to increase oil production by 432,000 barrels per day in May
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to publish Thursday , March 31 , 2022
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to publish Thursday , March 31 , 2022
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[rtl][You must be registered and logged in to see this image.]Currently showingDespite America's pressure on OPEC, Saudi Energy Minister: We did the right thing[/rtl]
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(CNN)-- The Organization of the Petroleum Exporting Countries and Russia agreed, Thursday, to maintain the increase in crude oil production for the month of May 2022 by 432,000 barrels per day.
The ministers of OPEC member countries and non-OPEC producers held a meeting today via videoconferencing techniques.
"OPEC" said, in a statement, that following the conclusion of the ministerial meeting, it was noted that the continuation of the oil market fundamentals and consensus on expectations indicate a well-balanced market and that the current volatility is not caused by fundamentals but by continuous geopolitical developments.
OPEC decided to hold its next ministerial meeting on May 5, 2022.
The organization stressed the importance of adhering to the full compliance and compensation mechanism and benefiting from the extension of the compensation period until the end of next June.
[You must be registered and logged in to see this link.]
The ministers of OPEC member countries and non-OPEC producers held a meeting today via videoconferencing techniques.
"OPEC" said, in a statement, that following the conclusion of the ministerial meeting, it was noted that the continuation of the oil market fundamentals and consensus on expectations indicate a well-balanced market and that the current volatility is not caused by fundamentals but by continuous geopolitical developments.
OPEC decided to hold its next ministerial meeting on May 5, 2022.
The organization stressed the importance of adhering to the full compliance and compensation mechanism and benefiting from the extension of the compensation period until the end of next June.
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