The OPEC+ organization has decided to extend its current oil production quotas until the end of next year. This decision was announced on the organization’s official website.
On November 30, representatives of OPEC member states convened and made this decision. According to the organization’s representatives, meetings of the relevant committee on this matter will be held twice a month.
The Carter statement noted that eight member states may partially or fully restore oil production to 1.65 million barrels per day. This would depend on market conditions and needs.
According to RIA Novosti, the total hydrocarbon production this year amounts to 39.7 million barrels per day. OPEC+ forecasts suggest that global oil trade volume will reach 61 million barrels per day by 2030.
Last year, this figure stood at 55 million barrels per day. Hydrocarbon exports from Middle Eastern countries are expected to increase by 23.5 million barrels per day.
The primary customers are anticipated to be countries in the Asia-Pacific region.
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