Baku. TurkicWorld:
OPEC+ countries have decided to delay the planned gradual increase in oil production due to the recent drop in oil prices, TurkicWorld reports via OPEC.
"Today, the agreement was reached to extend the timeline by two months, until December 2024. This involves the volumes—2.2 million barrels per day—that were previously reduced voluntarily by eight OPEC+ members, including Russia, Saudi Arabia, and Kazakhstan," the statement noted.
Initially, it was planned that starting in October, eight OPEC+ countries would begin increasing production by 180,000 barrels per day.
This decision comes amid the lowest oil prices in the past nine months, with the hope that it will help halt the price decline. The Brent crude price fell below $80 per barrel this week.
