new York It is a strategic reversal: the alliance of oil exporting countries OPEC plus wants to produce more oil than the market expected. The state oil exporters want to produce around 650,000 barrels of oil per day in July and August, as OPEC announced after an online session on Thursday. The amount corresponds to around 0.65 percent of global oil requirements.
The oil price fell slightly by 0.5 percent on Thursday and fell to around 115 dollars a barrel (around 159 liters). According to initial market rumors, oil prices had already fallen by five percent the day before.
This means that the production increases are 50 percent higher than in the previous months. With the step, Opec plus is also preferring to exit the production limits that Allianz had imposed in response to the slump in oil demand in the corona pandemic.
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Continue
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Continue