OPEC+ to increase oil production

OPEC+ to increase oil production

© Photo: Maria Novoselova/ Vestnik Kavkaza

In a few months, OPEC+ will begin to increase oil production. According to earlier reports, the organization plans to do so in October.

OPEC+ considers increasing oil production in December of this year, sources in the organization report.

According to Reuters, the increase in production is explained by the fact that a small number of countries are gradually starting to abandon voluntary reductions.

"OPEC+ intends to begin increasing oil production in December, since its impact will be insignificant if the plan of some members for deeper cuts to compensate for excess production is implemented in September and beyond,”

– Reuters informs.

Earlier, it was reported that OPEC+ countries consider increasing production in October.

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