OPEC+ oil production increase since July

The International Monetary Fund announced that it expects OPEC+ countries to gradually increase oil production from next July.

According to the report of Al-Khalij Online, Al-Sharq announced yesterday Friday, Amin Mati, the head of the lending committee of this institution to Saudi Arabia, said on the sidelines of the meeting of the International Monetary Fund and the World Bank in Washington: We assume that the complete withdrawal from the reduction Production will take place at the beginning of 2025.

Mati also pointed out that due to Saudi Arabia’s plans to develop industries from production to logistics services, the International Monetary Fund expects the growth momentum of the non-oil sector to remain strong for at least the next two years.

The International Monetary Fund raised its estimate of the growth rate of Saudi Arabia, the world’s largest oil exporter, to 6 percent from 5.5 percent in its latest forecasts released this week, making it second only to India. .

The fund also expects Saudi Arabia’s oil production to reach 10 million barrels per day in early 2025, which is the lowest level in the last three years at 9 million barrels.