03.08.2022, 17:56
OPEC+ to Increase Oil Output by 100,000 Bpd in September
Source: OREANDA-NEWS
OREANDA-NEWS The OPEC+ alliance will increase the oil production by 100,000 barrels per day in September, according to its communique issued after the Wednesday meeting.
The decision means that Russia and Saudi Arabia may increase the output by 26,000 barrels per day each.At the same time, the group’s communique said the insufficient investment in the oil sector will affect the availability of supply beyond 2023.Global oil production increased in June by 690,000 barrels per day. reaching 99.5 million barrels per day, according to the International Energy Agency (IEA). At the same time, the agency said that global oil demand had reduced by 1.7 million barrels per day to 99.2 million barrels per day due to the spike in energy prices.
The decision means that Russia and Saudi Arabia may increase the output by 26,000 barrels per day each.At the same time, the group’s communique said the insufficient investment in the oil sector will affect the availability of supply beyond 2023.Global oil production increased in June by 690,000 barrels per day. reaching 99.5 million barrels per day, according to the International Energy Agency (IEA). At the same time, the agency said that global oil demand had reduced by 1.7 million barrels per day to 99.2 million barrels per day due to the spike in energy prices.
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