Algerian Energy Minister Mohamed Arkab said today, Thursday, that the increase in “OPEC +” production of crude oil should not exceed 400,000 barrels per day in December.
The Algerian news agency quoted Arkab as saying that the situation in the oil market indicates that the increase in production of the member countries of the “OPEC +” grouping in December should not exceed 400,000 barrels per day.
Oil prices fell about 1 percent to their lowest level in two weeks on Thursday after Iran said that talks with world powers over its nuclear program would resume by the end of November, in conjunction with a buildup of US crude stocks.
The emergence of new foci of the Corona virus in China, record deaths from the disease and the threat of closure in Russia, in addition to the high incidence of infections in Western Europe, stopped the rise in oil prices.
Source: “Reuters”
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