Oil prices have recently been relatively high in Germany as well. That might have changed with an increased production volume on the world market – but nothing will come of it for now.
The negotiations to expand oil production from August onwards have been postponed to no avail. The oil cartel Opec and its partner countries have not set a date for a new meeting, it was said on Monday from the environment of the so-called Opec +.
The Saudis-dominated oil cartel Opec and its Russian-led cooperation partners had been discussing plans since Thursday to increase their daily production by 400,000 barrels per month from August. The joint step of the so-called Opec + should help to supply the recovering global economy.
However, the United Arab Emirates had demanded the allocation of a higher production quota, while Saudi Arabia did not want to grant the neighboring Gulf state any special rights.
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
