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  • OPEC+ continues discussions on reducing oil production until 2025

    Опубликовано: 2024-06-03 14:00:29

    The Organization of the Petroleum Exporting Countries (OPEC+), together with its partners, is actively working to agree on an agreement on the further reduction of oil production, which can be carried out until 2025. According to Bloomberg, with reference to sources in OPEC+, officials of the participating countries are considering the possibility of extending restrictions on oil production by approximately 2 million barrels per day in the second half of the current year. It is planned that the final decision on this issue may be made during Sunday's online meeting of participants.

    The conclusion of such an agreement is an important step to avoid a possible surplus of oil on the world market, especially in connection with the expected recovery of supplies of shale oil from the United States. Such restrictions are intended to support the stability of oil prices, which is important for all market participants, including producers and consumers.

    According to the report, OPEC+ is also considering the possibility of extending production cuts until 2025, which is reflected in the group's strategic plans for balancing market needs and production capacity. It is known that some participating countries, in particular the United Arab Emirates and Kazakhstan, may increase their production volumes in the future, which will require clarification of strategies and coordination of decisions within the framework of OPEC+.

    Asking the question about the further development of the situation in the oil industry is important for all market players. The conclusion of a long-term agreement on oil production until 2025 will not only define the economic landscape in the sector, but will also influence global energy strategies and market sustainability in the face of geopolitical and economic challenges.

    It is noted that the discussion in OPEC+ takes place in the mode of informal negotiations, which allows the participants to take into account all aspects of international relations and domestic economic conditions, based on the analysis of market data and forecasts.


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