Russia intends to offer OPEC + increase oil production, Bloomberg sources familiar with the situation reported. The decision to achieve changes in the status quo is explained by the fact that the country sees deficiency in the market in the market, which in the medium term should continue. The final position of Moscow, which they want to present at the meeting of the group next week, as long as it is formulated, clarified one of the interlocutors of the agency.
This month, the International Energy Agency encouraged the organization of countries – oil exporters (OPEC) and its partners to start selling products available to them to satisfy rapidly regenerating demand. According to the calculations of Goldman Sachs, now the market lacks three million barrels per day.
Meeting of all countries of OPEC + alliance are scheduled for July 1. Earlier on June 1, the Alliance retained the previous transaction parameters that allow you to increase production in July. On June 21, the Deputy Prime Minister of Russia Alexander Novak reported that the deal could be extended, but there is no decision on the timing of its action yet.
After falling demand against the background of the coronavirus crisis in 2020, OPEC + agreed on the reduction of production, but the stabilization of the situation allowed to correct restrictions. By June, they constitute 6.2 million barrels per day, July 5.76 million. Restoration of demand after a pandemic, according to experts, already contributes to the increase in oil prices, which in the future can reach $ 100 per barrel.