Sources said that OPEC Plus may continue its current policy of oil production by increasing 400,000 barrels per day during the month of April, according to Archyde.com.
The Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as “OPEC +”, agreed last month to increase production by 400,000 barrels per day during the month of March.
The organization and its allies, which produce more than 40% of global oil supplies, have faced calls from the United States, India and others to pump more oil as global economies recover from the consequences of the pandemic.
Because of Russia’s invasion of Ukraine, oil prices witnessed a significant increase last week, during which Brent crude reached 105 dollars.
Yesterday, oil prices fell below $100After the sharp rises in the previous session, with the exclusion of energy from sanctions against Russia.