OPEC+ maintains plan to increase oil production in August

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The members of the Organization of Petroleum Exporting Countries and allies (OPEC+) decided to maintain the plan to increase the production of the commodity by 648,000 barrels per day (bpd) in August, according to a statement released after the group’s ministerial conference on Thursday ( 30).

The decision confirms the schedule agreed in June, when the cartel accelerated the growth of supply in relation to the monthly adjustment of 432 thousand bpd that was in force previously.

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In recent months, producers have been the target of pressure from the United States to increase the supply of the energy asset, in order to contain the rise in prices.

According to the note, whose content had been anticipated by Dow Jones Newswires, OPEC+ reiterated the importance of members complying with the program’s compensation mechanism.

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The next ministerial meeting was scheduled for August 3, 2022.

Source: CNN Brasil

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