Sources in “OPEC +”: halting oil production increases is not currently being discussed

Three sources in “OPEC +” told “Reuters”, “The alliance of major oil producers is not currently discussing stopping increases in crude production, despite the move by the United States and other consuming countries to withdraw from emergency reserves.”
The group is adding 400,000 barrels per day to its supply each month to end record production cuts in force since last year, currently amounting to 3.8 million barrels per day.
An official in the Kuwaiti energy sector told “Reuters”, “The discussions ahead of the “OPEC +” meeting next week have not started yet.”
“Therefore, Kuwait does not yet have any position,” he added.
In a related context, Ihsan Abdul-Jabbar, the Iraqi Minister of Oil, explained that the oil-exporting countries “OPEC” are working to find balance and stability in oil prices in the global market.
He said in a press statement in Baghdad yesterday, “We are monitoring the oil market and everyone is working to preserve their rights and support the stability of the oil market. Oil prices in the global market may jump to one hundred dollars a barrel next year, and that Iraq’s oil exports for the current month from the southern fields amount to three million and 200 million.” thousand barrels per day.

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