OPEC + members agree to grow larger oil production than expected in August


OPEC logo, on June 25, 2024, Ankara is shown on the mobile phone screen in front of the computer screen, which demonstrates the Ankara badges in Turkey.

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On Saturday, the Opec + Union agreed to raise the collective raw barriers 548.00 barrels because they continue to attract a set of eight oil-producing people.

The bottom of the union – heavyweight producers came together in the day with Russia and Saudi Arabia, Algeria, Iraq, Kazakhstan, Kuwait, Oman and the United Arab Emirates. The results of 411,000 barrels per day were expected to increase the smaller 411,000 barrels.

In the statement, the OPEC Secretariat’s decision of the countries of the country to 548 thousand barrels “Continuous global economic outlook and current healthy market bases, as reflected in low oil reserves”

Eight manufacturers carry out two sets of voluntary production outside the official policy of more OPEC + Coalition.

1.66 million barrels of 1.66 million barrels per day, remain in force until the end of next year.

As part of the second strategy, the countries have reduced the production of 2.2 million barrels per day until the end of the first quarter.

Initially, 137,000 barrels per day were set out to increase 137,000 barrels by September 2026, but in April, he continued rapidly. The group increased to 411,000 barrels in May, and in June and July, and increased the pace of increased growth in August.

Oil prices in the last weeks seasonal summer spike and demand and A 12-day war between Israel and IranHe increased the supply of Tehran on potential violations of materials that are both threatening and keypaths Hormuz Strait.

At the end of the Friday session, oil futures formed $ 68.30 per barrel to end September, and a barrel for September and August-August-August Nymex WTI was $ 66.50 per barrel.



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