London-Sana
Two sources in the (OPEC Plus) group stated that the group agreed to adhere to the current oil production policy and increase production by 432,000 barrels per day in next June.
(Reuters) quoted the organization as saying that "Russia and Saudi Arabia will be able to increase their oil production to 10.663 million barrels per day each in next June."
The (OPEC Plus) meeting, which includes the Organization of Petroleum Exporting Countries (OPEC) and allies, including Russia, was held today, amid rising oil prices.
Crude prices in March recorded their highest levels since 2008 at more than $139 a barrel, and benchmark Brent crude was trading above $111.
The countries of the (OPEC Plus) group had agreed to increase oil production by 400,000 barrels per day until the end of the restrictions imposed on production since March 2020, when the Covid-19 pandemic curbed demand, at which time it was agreed to reduce production by 9.7 million barrels per day.
The International Energy Agency, the energy watchdog in the West, agreed last month to withdraw record amounts of stocks to help cool prices and offset supply disruptions from Russia.
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