The Limited Times

Now you can see non-English news...

Oil: variants complicate “Opep +” decisions

2021-07-01T22:35:07.569Z


The countries exporting black gold were to agree on increases in production from August. Open the floodgates a little more, no doubt. But how far? This is the question posed Thursday by the 23 members of OPEC +, the Organization of the Petroleum Exporting Countries and their allies meeting by videoconference. By late afternoon, close sources said the leaders Saudi Arabia and Russia agreed to ease restrictions in August. Riyadh is traditionally cautious while Moscow prefers to open the


Open the floodgates a little more, no doubt.

But how far?

This is the question posed Thursday by the 23 members of OPEC +, the Organization of the Petroleum Exporting Countries and their allies meeting by videoconference.

By late afternoon, close sources said the leaders Saudi Arabia and Russia agreed to ease restrictions in August.

Riyadh is traditionally cautious while Moscow prefers to open the taps to contain the rise in prices, too favorable to American producers.

Read also:

Climate: the oil majors under pressure from their shareholders

In response to the Covid crisis, OPEC + has reduced its production since May 2020 by nearly 10 million barrels per day (mb / d), or 10% of global consumption.

According to the agreement, the cuts, which now stand at 5.8 mb / d, were to end in April 2022. But, on Thursday, sources suggested that they could go beyond that date.

Meanwhile, the increase in crude production may be lower

This article is for subscribers only.

You have 49% left to discover.

To cultivate your freedom is to cultivate your curiosity.

Continue reading your article for € 1 the first month

I ENJOY IT

Already subscribed?

Log in

Source: lefigaro

All news articles on 2021-07-01

You may like

Trends 24h

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.