OPEC raises production less than expected

the more From Produce Organization of Petroleum Exporting Countries (OPEC) (OPEC) during December got back up under the upside It was planned in agreement with its allies, the main obvious reason being capacity constraints that limit supply as demand recovers from the pandemic.

OPEC bombeó 27.80 million barrels per day In December, according to a Reuters poll, this represents a more From 70 thousand barrels per day In exchange for its infusion in November. However, this falls short of intent 253 thousand barrels per day which allows an agreement supply.

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With this drop in production, adherence to the cuts promised by OPEC in December increased by 127% Compared to 120% in November.

OPEC and its allies (OPEC +) allowed to increase production 400 thousand barrels per day In all members, including 253 thousand, they are distributed roughly to 10 members of the organization participating in the agreement.

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Kingdom Saudi Arabia It is the member country that leads the increase in crude oil production, followed by AngolaAnd Arab Emirates s Algeria.

the OPEC + met yesterday Tuesday I agreed to another increase in pumping 400 thousand barrels per day In February, which means the imbalance between real and counted supply could increase further if major producers are unable to make up the shortfall left by smaller producers because they cannot recover from the cuts.

OC

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