The member states of OPEC+ will further increase production oil Since November during today’s conference, according to Reuters sources near the talks.
OPEC+ participates in OPEC member states along with Russia, but also some countries with lower production, increasing their production targets over 2.6 million oil barrels per day (BPD) this year, accounting for about 2.5% of world demand.
Saudi Arabia is pushing for a greater increase in an effort to win again a larger share of the market, while Russia is proposing a moderate increase in oil production.