The possibility of a reduction of 100,000 barrels of OPEC+ oil production

According to the report of the Fars International Economic Group, citing Reuters, six informed sources in OPEC plus They said, the group is likely to keep its October oil production quota unchanged at today’s meeting, although some sources did not rule out production cuts to boost oil prices.

Six sources of OPEC plus They said, it is expected that the Organization of Petroleum Exporting Countries (OPEC) and its allies such as Russia, together with OPEC plus They are called to change the existing policies.

However, three sources familiar with the matter said the group of producers was considering a cut of 100,000 barrels per day.

OPEC meeting today plus It will be held in complex conditions, including the possible increase in the supply of Iranian crude oil to the market.

At the same time, Russia has also announced that it will not sell oil to countries that support the idea of ​​imposing a price ceiling on Russian energy.

Sending Russian gas to Europe has also decreased further, which will increase prices further.

Crude oil prices have fallen from $120 per barrel in June to $95 per barrel due to the economic slowdown and recession in the West.

It is expected that if the sanctions are reduced, one million barrels of Iranian oil per day or one percent of the demand in the world will enter the market.

OPEC’s biggest producer, Saudi Arabia, last month announced a possible production cut to counter what it sees as an exaggerated drop in oil prices.
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