Source: OPEC+ recommends raising output by 400,000 bpd in March - News Archive - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Source: OPEC+ recommends raising output by 400,000 bpd in March

MOSCOW, Feb 2 (PRIME) – OPEC+ Joint Ministerial Monitoring Committee has recommended the alliance raise oil production by 400,000 barrels per day (bpd) in March as planned, a source in one of the delegations told PRIME on Wednesday.

"The recommendation was to stick to the plan, to raise output by 400,000 bpd in March," the source said.

The OPEC+ countries agreed to reduce their oil output by 9.7 million bpd in May 2020 to fight the fallout  of the global coronavirus pandemic, with Russia’s share at 2.5 million bpd. The cut was narrowed to 7.7 million bpd for August–December 2020, and later to 5.8 million bpd.

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02.02.2022 15:59
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