According to the OPEC+participating countries agreement, in April only one phased increase in oil manufacture will begin.
The OPEC+ Cartel Monitoring Committee has decided not to change the current oil manufacture policy and act according to the previously agreed plan. This was reported by the Organization of Oil Exporting Country (OPEC) on Monday, February 3.
Meeting participants mentioned the importance of achieving full compliance with the current parameters of the Agreement, as well as implementing compensation schedules for excessive manufacture of a number of countries during the validity of further voluntary reduction In making oil.
In addition, Ministers of OPEC+ countries have noted at the meeting that the adjustment of the Alliance Plan of Voluntary Abbreviations has ensured the stability of the global oil market.
According to OPEC+participating countries agreement, in April only one phased increase in labor in the United Arab Emirates by 2.2 million barrels per day – the final stage – and a monthly increase in the manufacture of 138,000 barrels per day. Production increases will continue until September 2026.
The next meeting of the Minister’s Committee is scheduled for April 5th.
Thus, on OPEC they ignored the appeal of US President Donald Trump to immediately increase oil manufacture. In his opinion, it will help to quickly end the Russian war against Ukraine.
The President’s office then said Ukraine suggested that Russia’s maximum price set for $ 30 per barrel.
The Kremlin also responded to Trump’s proposal for oil. They believe that the reduction in prices will not contribute to the end of the Russian war against Ukraine.
Source: korrespondent
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