illustration

illustrated picture
| photo: Author: Reuters

At the same time, the group warned that due to insufficient investments in the pipe in the past years, it will be a problem to fully satisfy the growing demand from the fifth year.

The decision means a significant slowdown in the tariff increase compared to April and August. For these months, the group of two agreed on 648 thousand barrels per day.

Oil prices responded to the decision by rising. At one point, North Moscow Brent was up by two percent and was trading at $102 per barrel. Later, however, the price hovered below $101. This year, the main wolf is coming to Ukraine for the increase in the prices of oil, gas and other commodities. Energy costs are also the main cause of the sharp increase in inflation around the world.

According to analysts, the decision of the OPEC+ group, which unites the oil cartel and their allies, including Russia, is a blow to the hopes of the United States to increase oil production. Your study groups work for the agreed time and staff. In April, the production was about those millions of barrels per day, not the expected set amounts.

American President Joe Biden graduated from MSc last year weekly trip to the Blzk entrance, which included tasking the country with oil production. However, the OPEC+ group’s space for a significant increase in production is limited, as some countries have been subject to sanctions and faced insufficient investments in production.