OPEC+ countries have decided to postpone the planned restart of oil production from October until December. This was reported by TASS Citing a source on one of the delegations.
“The decision has been made [отложить]”For two months,” he said.
Since the beginning of 2024, eight OPEC+ countries, including Russia and Saudi Arabia, have reduced fuel production by 2.2 million barrels per day (b/d). It was planned to begin a gradual revival of oil production from mid-autumn, the production volume was supposed to be 180 thousand barrels per day.
At the end of August, traders I disagree On OPEC+’s fourth-quarter plans. The market outlook has weakened in recent weeks as economic growth in China, a major oil consumer, has slowed. Oil prices have fallen 11 percent since early July to below $80 a barrel in London, even as fighting between rival governments in Libya has held up 40 percent of the OPEC member’s output.
Previous analysts guess Oil prices to fall in 2025
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Source: Gazeta
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