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OPEC unveils September output increase plan

 Last Update: 2022-09-23
 Source: Internet
 Author: User

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On August 3, at a video conference between the Organization of the Petroleum Exporting Countries (OPEC) and other oil-producing countries, OPEC decided to slightly increase its production quota for September by 100,000 barrels per day

It is reported that the production quota has been approved in a video conference and will be distributed proportionally to the 23 countries participating in the production cut

At present, almost all OPEC members, except Saudi Arabia and the United Arab Emirates, cannot sustainably increase production, so the actual increase in supply will be much smaller, at about 34,000 barrels per day, analysts said

After the news came out, international oil prices fell significantly

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