OPEC+ not in talks to halt oil output increase: Report

25/11/2021 Argaam

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OPEC+ is not currently discussing halting oil output increases despite the United States and other countries releasing strategic reserves, Reuters reported, citing three sources.

 

No such discussion took place among the member states of suspending current supply policy, which includes increasing oil output by 400,000 barrels per day (bpd) on a monthly basis.

 

The White House announced, on Nov. 23, that the United States will withdraw 50 million barrels from its strategic oil reserves, in coordination with China, Japan, India, South Korea and Britain.

 

A gathering is scheduled on Dec. 1 for OPEC members only and another on Dec. 2 for OPEC+ to discuss supply policy and crude demand.

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