OPEC+ not in Talks to Halt Oil Output Increase

OPEC+ is not currently discussing halting oil output increases despite the United States and other countries releasing strategic reserves, Reuters reported, citing three sources.

No such discussion took place among the member states of suspending current supply policy, which includes increasing oil output by 400,000 barrels per day (bpd) on a monthly basis.

The White House announced, on Nov. 23, that the United States will withdraw 50 million barrels from its strategic oil reserves, in coordination with China, Japan, India, South Korea and Britain.

A gathering is scheduled on Dec. 1 for OPEC members only and another on Dec. 2 for OPEC+ to discuss supply policy and crude demand.

About Parvin Faghfouri Azar

Check Also

Ukraine’s Zelenskyy Calls on UN to Ensure Nuclear Security

Ukraine’s President Volodymyr Zelenskyy on Thursday urged urgent action to ensure the security of Europe’s …

Leave a Reply

Your email address will not be published.