OPEC+ countries decide to increase oil production

06.05.2022, 12:33

Oil prices continue to rise steadily. The price per barrel has already exceeded US$110. However, some experts suggested that the cost of oil will soon begin gradually declining. This is due to the fact that OPEC+ countries decided to increase oil production the day before.

“Following the meeting, it was decided to continue increasing the current level of production by OPEC+ countries by 432,000 barrels per day every month until the restrictions are completely lifted,” the Energy Ministry stated.

Kazakhstan’s obligations for June 2022 will amount to 1.66 million barrels per day.

 

Translation by Saniya Sakenova

Editing by Galiya Khassenkhanova