The Organization of Petroleum Exporting Countries and Allies (OPEC+) has agreed to a small, planned addition to oil production in April of 400,000 barrels per day (bpd), despite prices rising to levels not seen in more than eight years, amid supply concerns following Russia’s invasion of Ukraine.
The OPEC+ decision comes a day after the U.S. and other major oil-consuming countries said on Tuesday they would release 60 million barrels of oil from their emergency stockpiles in an attempt to tame rising prices.
Oil prices have risen sharply in recent months, fueling inflation around the world, in part because several OPEC+ members have been unable to meet their share of production as global demand has surged.
Values ​​topped $110 for the first time since 2014, when refiners refused to buy Russian crude, raising concerns about global energy supplies.
Source: CNN Brasil
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