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Most OPEC+ Nations Favor Boosting Oil Production By 0.5Mln Bpd Starting April - Source

Faizan Hashmi Published March 02, 2021 | 02:50 PM

Most OPEC+ Nations Favor Boosting Oil Production by 0.5Mln Bpd Starting April - Source

MOSCOW (UrduPoint News / Sputnik - 02nd March, 2021) Most of the OPEC+ nations are in favor of boosting oil production by 0.5 million barrels daily starting April, a source in a delegation told Sputnik ahead of the meeting, scheduled for Thursday.

"Yes, the majority is likely to boost production. The market situation is positive, and [daily] production is highly likely to increase by 0.5 million barrels," the source said.

When asked about potential effect that the production increase could trigger, the source noted that "OPEC+ technical and monitoring committees are analyzing risks."

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