The OPEC+ maintained voluntary production cuts Petroleumafter a meeting of the group’s ministerial panel and will decide in March whether to extend them or not, Reuters reported.
Last November, the OPEC+ agreed to voluntary production cuts of 2.2 million barrels per day (bpd) for the first quarter of this year, led by Saudi Arabiawhich extended a voluntary reduction of 1 million bpd.
The prices of Petroleum have found support in expectations of interest rate cuts in USA and rising geopolitical tension, particularly attacks by Houthi rebels in Yemen, aligned with Iran, against Red Sea shipping. He Brent crude oil It was trading above $81 a barrel on Thursday.
Two sources of OPEC+who did not want to be identified, said the cuts will be reviewed in March and will be announced when they are renewed, as has been usual until now.
Early on Thursday, the main ministers of the Organization of Petroleum Exporting Countries (OPEC) and his allies, led by Russiaknown as OPEC+, met by videoconference to discuss the market and production levels of Petroleumand they made no changes to the policy.
“The meeting was very healthy, fast and what we noticed is that there is good cohesion among the members. The commitments were reiterated,” said another OPEC+ source.
The panel, known as Joint Ministerial Oversight Committee (CMCM), It can call a full OPEC+ meeting or make recommendations on the policy to follow.
Source: Ambito
