The OPEC+ alliance has extended the oil agreement until the end of 2022

The OPEC+ countries have agreed to extend the agreement on limiting oil production until the end of 2022, according to a communique following a meeting of ministers of the alliance member states.

It is noted that this decision was made taking into account “today’s fundamental indicators of the oil market”.

The meeting participants also agreed to ” gradually increase the total production of the countries by 0.4 million barrels per day monthly, starting from August 2021, until the current production restrictions of 5.8 million barrels per day are exhausted.”

It is noted that a general assessment of the market and its prospects should take place in December, but OPEC+ representatives will continue to meet every month.

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Author: Ivan Maltsev
The study of political and social problems of different countries of the world. Analysis of large companies on the world market. Observing world leaders in the political arena.
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Ivan Maltsev

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