OPEC countries + transferred negotiations on the transaction about the restriction of oil production on Friday, July 2. It is reported by RIA Novosti.
on Thursday at the meeting of the Ministerial Monitoring Committee of OPEC +, as well as the ministerial meeting, representatives of the participating countries could not come to a consensus on oil production levels from August. It is noted that the UAE did not agree with its scope of reduction of production. Negotiations, the purpose of which is to form recommendations on the parameters of the agreement after July, will continue on Friday.
Earlier it was reported that Saudi Arabia and Russia reached preliminary agreements on the gradual increase in oil production in OPEC countries + in the coming months. According to Bloomberg, it can be about increasing production by two million barrels per day from August to December.
Last year, OPEC + agreed to reduce production against the background of the coronavirus crisis, but later corrected its restrictions. By June, they constitute 6.2 million barrels per day, July 5.76 million.