The OPEC+ group has agreed to stick to the current production policy, and will hold its next meeting on May 5.
According to Arabiya Net, the organization approved the supply increase by 432,000 barrels per day, scheduled for May, in an online meeting held today, Thursday. The decision was in line with expectations.
The group has responded to repeated calls from the United States and the Energy Agency to pump more crude to calm prices that have risen to close to all-time highs on fears of Russian supply disruptions after Washington imposed And the European Union imposed sanctions on Moscow after its invasion of Ukraine.
Saudi Arabia and the UAE have so far rejected these calls, saying the group should not interfere in politics and focus on balancing the oil market and meeting consumers' needs.
The administration of US President Joe Biden is considering withdrawing up to 180 million barrels of oil from the strategic oil reserves, and the International Energy Agency will meet tomorrow, Friday, to decide on a collective withdrawal from the reserves. Oil.
Brent crude futures fell 4%, to $109 a barrel, in early trading on Thursday.
Dispensing Energy Agency data
The OPEC+ Joint Technical Committee decided on Wednesday to stop using IEA data and replace it with reports from Wood Mackenzie and Rystad Energy, a source told Reuters.
The Energy Agency did not respond to a Reuters request for comment.
Some members of OPEC+ criticized the agency's statements, saying they were incorrect on several occasions, and noted that the agency was advising to avoid further investments in the hydrocarbons sector, as well as its failure to anticipate demand growth.
A source told Reuters the Energy Agency is adjusting its technical analysis to be consistent with what it has announced.
