The countries of the OPEC plus group reached an agreement on increasing oil production by 206,000 barrels per day in April compared to the level of March, according to the organization’s press release.
The announcement emphasizes that the decision was made with regard to stable global economic forecasts and currently healthy market fundamentals, which is reflected in low oil stocks.
Representatives of the group consisting of Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman held a virtual meeting.
The announcement states that the next meeting of the OPEC plus group will be held on April 5.
