The Organization of Petroleum Exporting Countries and its allies, known as the “OPEC +” group, decided, on the occasion of its 31st ministerial meeting, held today, Wednesday, to raise the total production of the group by 100,000 barrels per day next September, as announced by the Minister of Energy and Mines, Mohamed Arkab.
Therefore, the 23 countries of the coalition have agreed to reduce the level of the monthly increase compared to that scheduled for the current month.
The monthly increase scheduled for the month of September is considered the lowest of that approved since the implementation of the gradual production raising scheme agreed upon at the OPEC + meeting in July 2021.
The countries of the group have raised their total production since August 2021 by an average of 400,000 barrels per day per month before deciding to raise this rate to 432,000 barrels per day per month, to raise it again recently to 648,000 per day in order to meet to the increased demand.
