OPEC+ agreed on the return to the August transaction parameters. In October, oil production in the countries of the agreement will be reduced by 100 thousand b/s. The next meeting of OPEC+ will be held on October 5, writes Kommersant.
However, in the release according to the results of the OPEC+ meeting, it is noted that the Alliance is ready to hold meetings at any time to respond to the situation in the market.
In August, the representative of OPEC+ from Saudi Arabia said that the Alliance is ready to reduce oil production if the raw materials from Iran, who is now under sanctions, will again bargain on the world market. As a result of this, excess oil can grow on the world market.