The International Energy Organization IEF believes that OPEC will stick to the original plan to increase production

Foreign News reported on November 22 that Joseph McMonigle, Secretary-General of the International Energy Forum (IEF) based in Riyadh, said that unless disturbed by unforeseen external factors, the Organization of Petroleum Exporting Countries (OPEC) and its allies are expected to stick to the current monthly Gradually increase production plan
.


OPEC has stated that it intends to stick to a plan to gradually increase production by approximately 400,000 barrels per day per month
.
IEF is the largest international energy organization composed of energy ministers, with 71 member states, including Saudi Arabia, Russia and the United States
.


McMonigle said on Monday: "Given the oversupply next year, I think they will stick to their current plan, which is typical of the oil market in the first quarter
.
" "If they intend to make changes, it will be due to unforeseen external factors.
Such as the European blockade, any form of strategic release, and changes in aviation fuel demand
.
"

The oil market has risen due to concerns that OPEC and its allies may suspend production due to the release of strategic oil reserves
.


  This move was partly attributable to a press release issued by the IEF on Monday, which included comments made by McMonigle during a dialogue with Japanese officials, in which he stated that unexpected events may cause OPEC to change its approach
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  He said that the faster-than-expected recovery of long-haul international flights will be another factor that may change OPEC's view
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  He said: "If the recovery is faster and stronger, this is something they (OPEC) will consider
.
"

  He said: "To some extent, if there is an unforeseen situation, they will react because They believe that a sharp increase in prices is not in their interest
.
" "They want to see a global economic recovery, and in the final analysis, this is important to their customers
.
"