“It is also planned to hold a monthly meeting to reassess market conditions,” the agency was told.

As specified, further increase in production will depend on the results of the meetings, but it will not exceed 500 thousand barrels.

This is also reported by TASS with reference to a source in the Ministry of Energy of Kazakhstan.

“Yes, we supported an increase of 0.5 million barrels per day.

The meetings will be monthly to monitor the market situation.

Starting from January, the increase will be by 0.5 million barrels per day depending on market conditions, ”the source said.

Earlier, Russian Deputy Prime Minister Alexander 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.