OPEC will continue to increase oil production
As indicated by the agency, for the month of December it is expected to reach 400,000 barrels per day, following the route contemplated in July
The ministers of the Organization of the Petroleum Exporting Countries (OPEC) and the representatives of the allied producers, led by Russia, which together form the so-called OPEC +, agreed to go ahead with the gradual increase in the supply of crude oil by 400,000 barrels per day for December, as contemplated in the roadmap agreed last July.
With their decision this week, the OPEC + ministers ratified the roadmap for the rebalancing of the oil markets agreed at the summit held last July, when they established a monthly increase of 400,000 barrels until eliminating the adjustment of 5,8 million barrels per day implemented a year ago in response to the crisis due to the coronavirus pandemic.
After a brief meeting by videoconference, the ministers decided to “reconfirm the production adjustment plan and the monthly adjustment mechanism approved at the XIX OPEC and non-OPEC Ministerial Meeting and the decision to adjust up the general monthly production by 0.4 million barrels newspapers in the month of December “.
The OPEC countries and the producers outside the cartel confirmed that they will meet again on December 2.
After the OPEC+ decision was known, the price of a barrel of Brent crude, a reference for Europe, remained above 82 dollars, with an increase of 0.78 %, while WTI crude, a reference for States United, traded above 81 dollars with a revaluation of 0.35 % in the session.
Source: dpa
