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Russia, OPEC Plan to Discuss Need to Increase Oil Production in February

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Ministers of the OPEC+ countries will hold two meetings on Monday, where they will decide whether to continue recovery of oil production in February by another 0.5 mln bpd, TASS reported. The emergence of a new strain of coronavirus is exacerbating an already fragile situation in the oil market, OPEC said. According to TASS sources, not all members of the alliance unequivocally support increasing production in February, believing that it is necessary to wait at least a month to assess the changed situation.
The previous OPEC+ ministerial meeting took place just a month ago – on December 3. Then they agreed to increase …

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