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People familiar with the matter: OPEC + this week's meeting is expected to cool the oil market by increasing production

 Last Update: 2021-11-08
 Source: Internet
 Author: User

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crude oil products

rising

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According to people familiar with the matter, OPEC is expected to agree to increase production this week in order to cool the rapidly rising crude oil prices
.
It is reported that there is a general view within the organization that the market can absorb additional supply
.
Although the usual differences remain (that is, Saudi Arabia is cautious and Russia is eager to relax supply), all parties are ready to increase production
.
This may make the organization expected to achieve most of the increase in the 1.
5 million barrels a day plan
.
The plan will be discussed on Thursday
.
Insiders revealed that Russia has always advocated an increase of 500,000 barrels per day, and most other member states also believe that this plan should be promoted
.
Saudi Arabia will withdraw the additional production cuts from April as planned, but it is still internally discussing whether to withdraw the production cuts within a month or a longer period of time
.

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