Report: OPEC+ committee recommends keeping oil output growth plan

MOSCOW, Oct 4 (PRIME) -- The Joint Ministerial Monitoring Committee (JMMC) of the OPEC plus alliance has recommended maintaining the existing plan of raising the alliance’s combined oil production by 400,000 barrels per day, Bloomberg reported on Monday quoting delegates of the alliance’s meeting.

The OPEC+ countries agreed to reduce their oil output by 9.7 million barrels per day in May 2020 to fight the consequences of the global coronavirus pandemic, with Russia’s share of 2.5 million barrels per day. Since August 2021, the alliance has been raising production by 400,000 barrels per day each month expecting to cancel the reduction liabilities at the end of September 2022.

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