OPEC+ at a meeting on April 28 can confirm the decision to restore oil production

14:52 23.04.2021 1416

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The OPEC+ countries at the next meeting, which will be held on April 28, can confirm the previously approved plan to increase oil production in May - July 2021, said Russian Deputy Prime Minister Alexander Novak.

“We have scheduled a meeting at the end of April in order to once again monitor the situation, assess the current situation, forecasts. Last time we met a month ago, we discussed our plan of action for three months. Therefore, if nothing extraordinary happens, our task is  will confirm these plans and correct new ones”, TASS quotes Novak.

The global oil market is currently balanced, but if the deficit grows, OPEC+ may decide to further increase oil production.

“If there is a deficit, we always have the opportunity to change our decision - to increase production. As long as we see that the market is balanced,” he said.

The Deputy Prime Minister added that to date he had not received any official proposals not to hold the OPEC+ ministerial meeting on April 28.

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