OPEC meeting: Overall production maintained unchanged with some exceptions

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OPEC meeting: Overall production maintained unchanged with some exceptions

ALGIERS – Members of the Organization of the Petroleum Exporting Countries and their partners decided, on Tuesday, to keep their current production levels in February and March unchanged, granting an exception to both Russia and Kazakhstan, Minister of Energy Abdelmadjid Attar said.

“After a long debate and consultations which lasted nearly 24 hours, the members of the OPEC+ decided to rule out the possibility of increasing the group’s overall production by 500,000 barrels/day, granting an exception to Russia and Kazakhstan, which may increase their production respectively by 65,000 barrels / day and 10,000 barrels/day,” Attar told reporters after the meeting.

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