Secretary General of OPEC: “The decision to increase oil production by 100,000 barrels per day can be reconsidered”

Secretary General of OPEC: “The decision to increase oil production by 100,000 barrels per day can be reconsidered”

“OPEC does not compete with Russia, just as Moscow does not compete with the organization, we cooperate.”

“Report” informs that this was stated by the Secretary General of the Organization of Petroleum Exporting Countries (OPEC) Heysam al-Qays.

According to him, there are significant fluctuations in the world oil markets due to a number of reasons, mainly due to the lack of investments and production capacity reserves.

“Oil investments fell from 600 million dollars to 450 million dollars. “The decision to increase oil production by 100,000 barrels per day is aimed at testing the market’s reaction, it can be revised.”

Heysam al-Qays said that there is a constant dialogue between OPEC and Russia. He called it natural to divert Russian oil from the American market to Asian markets due to sanctions.

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