The acting Vice-Premier of Russia Alexander Novak announced that OPEC+ has reached a very important agreement on increasing oil production. According to him, this decision will help to prevent a possible oil deficit in the global market.
"Thanks to the agreement on gradually increasing oil production, we can prevent a possible deficit in the market," noted Novak.
He also explained that the new OPEC+ agreement means that the participating countries will increase oil production by 400 thousand barrels per day each month from August to December 2021.
