Today, Thursday, the Russian Foreign Ministry said that America is trying to persuade it to increase oil production, adding that America wants to pump more Russian oil to lower prices.
According to Arab Net, all eyes are now turned to the OPEC Plus group, which includes the Organization of Petroleum Exporting Countries (OPEC), Russia and allies, which is scheduled to meet next week to discuss demand and oil supply, after a group of countries led by America announced its intention to withdraw from its oil stocks.
The group is adding 400,000 barrels per day of supply each month, backtracking from record production cuts last year when pandemic restrictions hit demand.
Three sources told Reuters that OPEC + is not discussing stopping oil production increases, and traders are also awaiting whether China will follow the example of those countries and release oil from its reserves.
Both Kuwait and the UAE announced their commitment to the agreement to declare cooperation in the OPEC Plus group, and there is no prior position on the next meeting.
