Part of the OPEC+ countries began to reduce oil production
Since May, several countries participating in the OPEC+ agreement, including the largest oil producer, Saudi Arabia, have begun voluntary oil production cuts, TASS reports.
The total reduction in black gold production, which will last until the end of 2023, will amount to 1.66 million barrels per day.
This decision was made by 9 countries a day before the alliance's ministerial meeting held on April 30. It is aimed at maintaining the stability of the oil market.
Also among the countries that announced additional restrictive measures on production: Iraq — by 211 thousand b/d, the UAE — by 144 thousand b/d, Kuwait — by 128 thousand b/d, Kazakhstan — by 78 thousand b/d, Algeria — by 48 thousand b/d, Oman — by 40 thousand b/s, Gabon — by 8 thousand b/s.
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