OPEC + countries agree to increase oil production from January

“The compromise is that we are gradually, in equal steps, restoring production to the level stipulated by the agreement.

I hope this happens within a quarter.

We are adding 500 thousand barrels each, "Novak is quoted by TASS.

He emphasized that starting from April, the parties to the agreement can increase the volume of oil extraction by 2 million barrels per day relative to current levels in the absence of force majeure. 

According to the Deputy Prime Minister, in accordance with the new OPEC + agreements, ministerial meetings with the participation of all countries will be held once a month. 

Earlier, Novak, in his welcoming speech at the OPEC + ministerial meeting, said that the certainty with the results of the US presidential elections and the creation of vaccines against coronavirus had a positive effect on the oil market.