“At a meeting on Monday, OPEC+ countries did not amend their current plans for oil production, despite the call of President Donald Trump to reduce the prices of raw materials.”, – WRITE: epravda.com.ua
At a meeting on Monday, OPEC+ countries did not amend their current plans for oil production, despite the call of President Donald Trump to reduce the prices of raw materials. About it reports Bloomberg. According to a statement, key members of the coalition, led by Saudi Arabia and Russia, have decided to adhere to the strategy of restriction of oil supply by the end of this quarter, and from April to gradually increase production in several stages. The Alliance has been holding off production for more than two years to avoid surplus on the market, and three times delayed an increase in production, trying to support prices. Advertising: “Despite some doubts, fundamental market indicators remain stable and signs of economic recovery are already observed in several regions,” In the statement of the Ministry of Energy Algeria, which is a member of the OPEC. “It is expected that the demand for oil will increase significantly from April after the seasonal recession in the first three months of the year.” Russian Deputy Prime Minister Oleksandr Novak in a comment to the State TV channel “Russia 24” stated that Trump’s request to increase the production “were violated” at the meeting in one way or another. “This issue is certainly on the agenda in the context of market analysis and the effectiveness of the Agreement” “Advertising: According to him, all ministers who participated in a meeting of a joint ministerial monitoring committee confirmed their commitment to OPEC+ on market stabilization. Read also: Trump plans to collapse oil prices. How real is it and how will it affect Russia? Recall that US President Donald Trump, in his address to the world businessmen and political leaders, demanded that OPEC reduce oil prices and reduce interest rates.