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    Home > Chemicals Industry > Petrochemical News > Oil prices surged 2 percent as OPEC was likely to stick to its original oil production plan

    Oil prices surged 2 percent as OPEC was likely to stick to its original oil production plan

    • Last Update: 2023-03-24
    • Source: Internet
    • Author: User
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    Despite calls by the U.
    S.
    , led by Saudi Arabia, for OPEC members to increase output, OPEC is likely to stick to its plan
    to raise oil production by 400,000 barrels per day at Thursday's meeting, according to sources.

    As of 13:38 GMT, Brent crude oil rose $2.
    15, or 2.
    6%, to $84.
    14 per barrel; U.
    S
    .
    West Texas Intermediate crude rose $2.
    07, or 2.
    6 percent, to $82.
    93 a barrel.

    In the face of U.
    S.
    pressure, a Russian source said such a call would not shake OPEC's decision
    .
    And OPEC sources say the U.
    S.
    has enough capacity to boost production
    if it wants to help the world accelerate its economic recovery.

    So analysts said Thursday's virtual meeting was part of OPEC's Joint Ministerial Monitoring Committee, which recommended sticking to the plan
    .
    So despite pressure from oil-importing countries, OPEC is likely to stick to its current policies
    .

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