According to Alexander Frolov, the fact that the OPEC+ countries continue to negotiate and regulate oil production volumes is “perfect in itself.”
“This means that such a large, market-needed OPEC+ regulator continues to operate,” the analyst said.
He added that OPEC+ brings together countries whose total production is more than 45% of the total world oil production.
“Moreover, these are countries that are able to increase production volumes,” concluded the interlocutor of RT.
In turn, Stanislav Mitrakhovich explained that such a decision would minimally affect oil prices.
The specialist emphasized that prices will be influenced by the fact how the situation with sanctions against Russia will develop further.
“What will happen to lockdowns in China, what else will happen in the world with oil consumption,” he said.
Earlier it became known that OPEC + countries will increase oil production by 100 thousand barrels per day in September.
Russia and Saudi Arabia will be able to increase production by 26 thousand barrels per day.