After the summit, the Organization of Petroleum Exporting Countries (OPEC+) announced that the oil agreement was extended for next year and that the alliance will reduce its total production by 1.4 million barrels per day compared to 2024. It gives information about DEA News.
According to the agency, countries where oil production declines have been announced are already producing “black gold” below established quotas, so the new adjustments are likely only announced “on paper”.
The material states that due to the natural decline in production and technical nuances, a number of OPEC + countries, especially African countries, were not able to increase production to the level allowed for them.
In February, the Russian oil industry appeared Average daily oil and condensate production this month increased by about 2% compared to January, reaching approximately 1.508 million tons per day, reaching February 2022 production level.