The corresponding decision was made against the back of Saudi Arabia’s desire to punish Kazakhstan for excessive labor quotas.
The countries that make up OPEC+have decided to increase the amount of oil production from October, increasing it by 137 thousand barrels days. This step was reported by Reuters.
On Sunday, at an online meeting, eight members of the organization of the organization supported this decision. At the same time, the cartel has the right to change its plan in the future: to speed up the process of increasing, temporarily suspended or even canceling these goals. The next OPEC+ meeting is scheduled for October 5.
The context of expanding oil manufacture is associated, in particular, along with Saudi Arabia’s attempts to punish Kazakhstan for excessive coordinated quotas. Meanwhile, the United Arab Emirates has completed the modernization of their labor capabilities to increase the amount of labor.
Earlier it was learned that members of the European Union have reduced price limitations in Russia’s oil, which is part of economic pressure. In addition, Russia continues to lose its income from exporting energy carriers – a income collapse has been recorded 20% since the beginning of the year.
Keep in mind that eight countries members of OPEC+ previously agreed to the next increase in sunny oil production in September -by 547 thousand barrels compared to Augustus.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.