The oil states of the alliance Opec + are increasing
their production volume
as planned
.
In February, an additional 400,000 barrels (159 liters each) a day will be produced, said the oil cartel Opec after an online conference on Tuesday.
The representatives from the 23 member states of the association are thus continuing the previous strategy of a monthly increase in production.
The alliance, led by Saudi Arabia and Russia, does not believe that the Omikron variant of the coronavirus will have serious global economic consequences.
With the expansion of the volume of crude oil, the group is again approaching the production before the outbreak of the pandemic.
Opec + supplies around 45 percent of the world market demand for crude oil.
The next meeting of Opec + is planned for February 2nd.
On the one hand, the energy market experts at Commerzbank see the effects of the current corona wave, which could lead to
mobility restrictions in China,
as imponderables for the demand for oil and thus the price
.
On the other hand, strategic oil reserves would be released in some countries.
In the past few months, oil prices, and thus indirectly also the prices for petrol and other types of fuel, have risen so sharply because important oil states have kept their production volumes tight.
The sharp price increases have been a major driver of inflation rates.
Normally, the expansion of the output also leads to an easing of prices.