OPEC, led by Saudi Arabia, and major oil-producing countries such as Russia have confirmed that they will increase production in August by 648,000 barrels a day as planned and expand production on the same scale as in July. Did.
OPEC and "OPEC Plus" made in non-member oil producing countries such as Russia discussed crude oil production in August at an online meeting on the 30th.
As a result, we confirmed that we would increase production by 648,000 barrels a day as planned and expand production on the same scale as in July.
The high crude oil price has become one of the factors that accelerate inflation worldwide, and it has maintained its stance of responding to the demand for increased production from consuming countries such as Japan.
OPEC Plus initially stated that it would increase production by 432,000 barrels per day each month, but this additional production increase will be implemented by accelerating the planned increase in production in September.
For this reason, September production is the focus, but this meeting did not provide that policy.
US President Joe Biden will visit Saudi Arabia in July, which could further increase pressure on oil-producing countries to increase production.
On the other hand, there are some countries in OPEC Plus that cannot achieve their production targets due to equipment problems, and there is a view that it is difficult to increase production any further.
The next meeting is scheduled to be held on August 3, and it is expected that this situation will be identified and the response for September will be decided.