OPEC Plus emphasis on implementing supply adjustment plan

reports Mehr News Agency OPEC and its allies (OPECPlus), including Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman, who had announced a total of 5 million and 6,000 barrels daily in April and November 6, yesterday.

Due to the continued foundations and positive outlook of the oil market, based on December 5 (December 5), which was subsequently reduced on March 3 (Monday, March 23), the Oppalid Members 1 (April 1), decided to adjust their supply reduction in May in a total of 6,000 barrels, equivalent to a reduction of 6 months, according to the following table.

It is likely that the gradual adjustment of the voluntary supply of eight OPCPS members will be stopped or returned to the previous state of the oil market, allowing members to continue supporting the stability of the oil market.

Also, five OPEC Coalition member states have noted that the move would provide an opportunity for participating countries to accelerate the supply plan to accelerate their compensation.

These two countries are committed to reducing the voluntary supply agreed in the 50th session of the OPCPlus Agreement Monitoring Working Group on April 3 (April 5), and on their decision to compensate for any surplus offering. (April 1, 1) emphasized.

۱۰ OPEC Plas Coalition member states will hold monthly meetings to investigate the oil market situation, adhere to commitments and offset surplus supply.

These 5 countries come together on May 5 (May 1) to decide on production level in June.