Three sources at OPEC+ stated on Sunday that the group plans to accelerate the pace of oil production increases. According to these sources, OPEC+ intends to boost production by 400,000 barrels of oil per day in December. While the decision has not been officially made, the sides show readiness to agree on this step at a meeting scheduled for Thursday. At present, the production levels under the OPEC+ agreement are increasing by 180,000 barrels per day each month. Representatives of OPEC+ countries will begin a meeting to discuss this proposal and its impact on the oil market and prices. A certain imbalance exists in the proposal and demand in the oil market, and increased production may be a solution to this problem. Experts suggest that increased oil production may influence prices in the near future, especially considering the unpredictability of the situation in the world due to the pandemic.
