Report: OPEC+ recommends 400,000 bpd increase in August, December

MOSCOW, Jul 1 (PRIME) -- The ministerial monitoring committee of the OPEC+ alliance has recommended easing oil output restrictions further, including an increase by 400,000 barrels per day in August and in December, Bloomberg reported on Thursday quoting sources.

The committee also recommended prolongation of the OPEC+ deal until the end of 2022.

 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. The cut was narrowed to 7.7 million barrels per day for August–December 2020, and then to 5.8 million barrels per day.

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