Members of OPEC + decided to increase oil production in July and August

Also, the OPEC+ countries extended the period for compensating under-reduced oil volumes for debtor countries until the end of 2022.

According to Russian Deputy Prime Minister Alexander Novak, the growth in world oil demand this year will be 3.5-4 million barrels per day.

“In my opinion and in the opinion of the participants of today's ministerial meeting, the market is quite balanced.

We see that this year the total increase in demand will be about 3.5-4 million barrels per day, ”he said on the air of Rossiya 24, RIA Novosti quoted him as saying.

Stanislav Mitrakhovich, a leading expert of the National Energy Security Fund, commented earlier on the situation with oil production in Arab countries.