OPEC+ members again increased oil production quotas
Kyiv • UNN
From May, OPEC+ countries will increase oil production by 206 thousand barrels per day. Due to infrastructure damage, significant price fluctuations are possible in the market.
Members of the Organization of the Petroleum Exporting Countries and their partners within the OPEC+ format have decided for the second time in a row to increase oil production quotas. This is reported by DW, writes UNN.
Details
As noted, on April 5, OPEC+ members agreed to increase oil production by 206,000 barrels per day starting in May.
A similar increase - also by 206,000 barrels - the group had previously announced for April.
At the same time, OPEC+ warned that due to damage to energy infrastructure in the Persian Gulf region, significant price fluctuations on the global oil market are still possible.
The organization's statement emphasizes the critical importance of "the security of international maritime routes for the uninterrupted supply of energy resources." At the same time, OPEC+ does not rule out that global oil supplies may remain limited for a long time.