Source: OPEC+ to stick to planned oil output increase for January

MOSCOW, Dec 2 (PRIME) – The members of the OPEC+ alliance have agreed to stick to the current strategy and raise oil production in January by the planned 400,000 barrels a day, a source in one of the delegations told PRIME on Thursday.

“The countries decided to continue actions in the framework of the current strategy,” the source said.

The OPEC+ countries have been ramping up their combined oil production, which they cut by 9.7 million barrels a day in May 2020, by 400,000 barrels a day each month. The oil output reduction target for December is 3.76 million barrels per day. The reduction liabilities should be abolished in September 2022.

End %%md/jst%%