Russian Deputy Prime Minister Alexander Novak reveals in a press interview regarding the decisions taken today by the “OPEC +” group.
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“OPEC +” decides to continue increasing oil production for the month of August by 648,000 barrels per day
Russian Deputy Prime Minister Alexander Novak announced today, Thursday, that the “OPEC +” alliance decided, following its meeting today, to continue increasing oil production in August by 648,000 barrels per day.
Novak told “Russia 24” channel, “The decisions taken today are to jointly increase oil production by 24 countries by 648,000 barrels per day in August, as we decided previously in July.”
“We believe that the decisions that were made earlier and today for the month of August make us say that this will allow us to have a balanced market,” Novak added.
Representatives of the member countries of the “OPEC +” group are meeting for the second and final day of their meetings today, at a time when sources say that the group is unlikely to decide soon to pump more oil into the market following August.
At least 5 delegates to “OPEC +” said that “this meeting will focus on stabilizing production policies in August, and will not discuss the September policy,” while two other delegates said that “the issue of production following August may be raised, but no It is clear what steps can be taken.”
At its last meeting in early June, OPEC+ decided Increase production every month By 648,000 barrels per day in July and August, compared to a previous plan to add 432,000 barrels per day over a period of 3 months.
was French President Emmanuel Macron has told his US counterpart Joe Bidenthis week, that the President of the UAE told him that Saudi Arabia and the UAE, the only two members of “OPEC”, can only increase oil production “with difficulty”.