Brent oil fell from a 2023 high of about $98 in September to $79 per barrel.
OPEC+ countries plan to consider another possibility of reducing oil production in November due to falling world prices.
This was reported by Reuters , citing three sources in OPEC+.
“OPEC+ intends to consider the need for additional oil supply cuts at the group's meetings later this month,” the statement said.
The publication's source said that the existing restrictions are not enough, so the organization will probably consider expanding them. Other sources of the publication report that the organization is going to discuss a larger reduction in oil production.
OPEC+ countries have begun to consider cutting oil production as prices have fallen by almost 20% since the end of September.
“Brent crude fell from a 2023 high of around $98 in September to $79 a barrel. Concerns about demand and a possible surplus next year weighed on prices, despite support from OPEC+ production cuts and conflict in the Middle East,” the report says. message.
Let us recall that it was previously reported that the Russian oil company LUKoil took advantage of a loophole in EU sanctions to earn almost one billion euros in Bulgaria .
In addition, we previously reported that the United States will punish Russia for selling oil above the permitted ceiling .
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