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WorldPosted at: Jan 6 2021 12:10AM


OPEC confirms only Russia, Kazakhstan allowed to boost oil production over next 2 months

Vienna, Jan 5 (Sputnik) The Organization of the Petroleum Exporting Countries (OPEC) confirmed on Tuesday that only Russia and Kazakhstan had been allowed to slightly increase production over the next two months, while the other participants in the OPEC+ deal would keep slashing the same amount of oil as in January.
Earlier in the day, the Kazakh Energy Ministry said that Russia and Kazakhstan had been singled out for an increase in oil output in February and March under the OPEC+ deal.
"The Meeting acknowledged the need to gradually return 2 mb/d [million barrels a day] to the market, with the pace being determined according to market conditions. It reconfirmed the decision made at the 12th OPEC+ Ministerial Meeting to increase production by 0.5 mb/d starting in January 2021, and adjusting production from 7.7 mb/d to 7.2 mb/d," the statement on the results of the OPEC+ Ministerial Meeting read.
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Tags: #OPEC confirms only Russia# Kazakhstan allowed to boost oil production over next 2 months
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