Novak, Russia: OPEC is expected to stick to the agreement to increase production by 400,000 barrels per day at the November meeting
Last Update: 2021-11-01
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According to foreign news on October 25, Russian Deputy Prime Minister Novak said on Monday that it is expected that at the November 4 meeting, OPEC will stick to the previously reached agreement to increase oil production by 400,000 barrels per day
Novak also said that he expects oil demand to reach the pre-epidemic level by the end of next year, but it is difficult to predict whether oil prices will reach historical highs like natural gas prices
Novak said: “Due to the uncertainty that still exists, the demand (for oil) may fall
We also see that another wave of epidemics is spreading globally
Organization of Petroleum Exporting Countries (OPEC) and its allies headed by Russia The formed OPEC Group raised its oil production target by 400,000 barrels per day in September
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