According to the Deputy Prime Minister of Russia Alexander Novak, on Friday, the OPEC+ countries plan to increase oil production starting in April of this year; however, ultimately, they may refuse this decision in the event of a market imbalance.
"The strategic task is to support the stability of the oil and gas market. We see a positive dynamic in the recovery of demand, and therefore we are ready to gradually increase production, but when necessary, our coalition can react quickly to changes in order to stabilize the market," Novak emphasized.
Overall, against the backdrop of a gradual return to normal functioning of the global economy, OPEC+ aims to maintain the situation in the oil sector under control to avoid sharp price fluctuations and ensure market stability.
