OPEC is not determined to influence the price of oil
The thirteen members of OPEC and their ten partners, known as OPEC+, are sticking to their strategy of very gradually increasing oil production.
REUTERS/Nick Oxford/File Photo
Text by: RFI Follow
1 min
As expected, the oil-producing countries have agreed on a further marginal increase in their extraction.
They will adjust the total monthly production upwards by 432,000 barrels per day for the month of June.
Despite the surge in crude oil prices, OPEC is not deviating from its roadmap.
Advertisement
Read more
Month after month, the thirteen members of
OPEC
and their ten partners, known as OPEC+, are sticking to their strategy of very gradually increasing production.
This strategy was initiated in the spring of 2021, when the global economy was starting to recover after the shock of the pandemic.
The war in Ukraine, which caused a new surge in black gold prices, and calls from all sides to open the taps further, have not changed anything.
►Also listen: Oil: despite Western pressure, OPEC+ countries do not open the floodgates
Especially since the caution of the cartel is now reinforced by health policy in China.
The middle empire has faced its worst epidemic outbreak in recent weeks.
After Shanghai, the economic capital of the country, the inhabitants of Beijing now fear confinement.
Global activity should also suffer from the war in Ukraine and runaway inflation.
A climate that has led OPEC to revise downwards its forecasts for global oil demand.
Be that as it may, the cartel has already failed since the fall, and with the exception of February, to reach its production quotas.
Newsletter
Receive all the international news directly in your mailbox
I subscribe
Follow all the international news by downloading the RFI application
google-play-badge_EN
Energies
Oil
Raw materials