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OPEC+ keeps its current production policy unchanged

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The OPEC+ group’s ministerial committee kept the production strategy unchanged, and the statement said the ministerial monitoring committee had not recommended amendments to the group’s oil deal.

And the statement read: “Members of the Ministerial Monitoring Committee reaffirmed their commitment to the Declaration of Cooperation (OPEC+ agreement), valid until the end of 2023, in the form agreed upon at the thirty-third Ministerial meeting of OPEC and non-OPEC members on October 5 2022 and called on all participating countries to achieve full compliance with (the terms of the agreement).”

The next meeting of the Ministerial Review Committee is scheduled for April 3 next year, and the next meeting of the entire alliance is scheduled for June 2023, unless an extraordinary meeting is required to amend the oil agreement.

In turn, Deputy Prime Minister of the Russian Federation Alexander Novak said that the situation on the world oil market is currently completely stable, and the price level is acceptable.

He also noted some uncertainty, especially regarding the state of the global economy and growth in demand in China.

As for the production of black gold in Russia, the Deputy Prime Minister of Russia said that the situation with the production and export of oil from Russia is currently stable, despite the European embargo and the introduction of a ceiling on oil prices. Russian barrel.

Source: News

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