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Reuters: OPEC will maintain the pace of increase in oil production in August

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The Organization of the Petroleum Exporting Countries (OPEC) and countries participating in the OPEC+ agreement, including Russia, will not change the rate of increase in oil production in August, Reuters reports, citing sources in the cartel. In June, its participants agreed to increase production by 648 thousand barrels per day (b / d). The OPEC + meeting is scheduled for next Thursday, June 30. “OPEC + is not going to change plans (on oil production. – Kommersant) at a meeting this month,” said one of the agency’s interlocutors in OPEC +. His words were confirmed by four other sources of Reuters. The Russian authorities expected that the increase in oil production agreed upon by OPEC + would balance the market. In June, OPEC lowered its forecast for oil production in Russia in 2022 to 10.63 million bpd. The cartel expects that the United States, Brazil, Canada, Kazakhstan, Guyana and China should become the main drivers of growth in supplies from non-OPEC countries this year. Even more news – in the Telegram channel ….

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