Logo of OPEC

OPEC+ is likely to agree on an oil output hike of up to 600,000 barrels per day (bpd) for July, Reuters reported, citing an unnamed source.

 

Russia may agree to compensate OPEC+ for the current decrease in its oil output, due to the sanctions imposed on the country after its invasion of Ukraine, another source said.

 

An agreement may be reached on gradually offsetting the Russian output loss, which is currently one million bpd below the country’s share in OPEC+; however, there is no guarantee for a unanimous approval on this move today, June 2.

 

A GCC source at OPEC said that a decision on making up for Russia’s production is highly possible during today’s meeting.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Commodity Price

 
Brent Crude Oil
75.24
0.98 1.32%
Nymex
71.31
1.18 1.68%

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request