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Published on: Thursday, January 07, 2021
By: AFP
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File pic shows the logo of the Opec (Organization of the Petroleum Exporting Countries) is seen at the organisation’s headquarter on the eve of the 164th Opec meeting in Vienna, Austria.
LONDON: Members of the oil cartel Opec and their partners agreed to raise output slightly in February and March, but only in Russia and Kazakhstan.
Overall the amount of crude oil the group has voluntarily withdrawn from global markets is to decline from 7.2 million barrels per day to 7.125 mbd in February, and 7.05 mbd in March, the Opec+ group said in a statement issued at the end of its first ministerial meeting of the year.