July 20, 2024

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No need to face the US call for more OPEC + offer – Money Times

No need to face the US call for more OPEC + offer – Money Times

The price of the international Brent benchmark has increased by 35% this year to $ 70 per barrel (Image: Pixabay / mhouge)

A Opep And including its allies RussiaI hope the market does not need more Petroleum Despite the pressure, they plan to release what they can in the coming months United States To add to the supply and control the rise in commodity prices, four sources said Reuters.

Price for international reference Brent Petroleum exporting countries and their allies OPEC + have increased their economic recovery by $ 35% to $ 70 a barrel this year amid an epidemic of epidemics and restricted supply.

Last week, the administration of the US presidential government, Joe Biden, Asked the Producers Group to increase supply in view of the increase in petrol prices. Economy The world.

In July, OPEC + agreed to increase monthly production by 400,000 barrels per day (ppd) from August, until the current oil production reduction of 5.8 million ppd is completely eliminated.

One of the four sources, speaking anonymously, told Reuters that there was no need to release too much oil quickly, while another source said he was not concerned that the planned increase would not meet schedule demands.

Two more OPEC sources and the latest data from the International Energy Agency (IEA) indicate that no additional oil is needed.

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