GENERICO.ruWorldSource: the heads of the OPEC + delegations will determine the volume of oil production for February

Source: the heads of the OPEC + delegations will determine the volume of oil production for February


OPEC Headquarters in Vienna MOSCOW, 4 Jan. Meeting of all heads of OPEC + delegations has begun in the format of a videoconference, the participants will determine the parameters of the oil deal for February, a source in one of the alliance's delegations told RIA Novosti. A meeting of the OPEC + ministerial monitoring committee ended a little earlier. There is no official information about its results yet. Meanwhile, a RIA Novosti source said that the committee did not give recommendations on the level of production for February. OPEC + monthly increases production by 400 thousand barrels per day, which in May 2020 was reduced by 9.7 million barrels per day due to the fall in oil demand caused by the pandemic. The alliance expects to gradually withdraw from its production restriction obligations by the end of September 2022. As of January, they amount to 3.36 million barrels per day. At the last meeting, in December, the alliance did not slow down with an increase in oil production, despite the emergence of the omicron coronavirus strain. However, OPEC + then announced that it would continue to monitor the market and, if necessary, take measures to stabilize the situation.

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