Sources: OPEC+ intends to maintain oil production at its current levels
Alliance is expected to maintain "OPEC+" Oil production levels remained unchanged at its meeting scheduled for Sunday, sources told the agency "Reuters"
The meeting of OPEC+, which pumps half of the world’s oil, comes in light of new American efforts to mediate a peace agreement between Russiaand Ukraine, which may increase oil supplies if sanctions on Moscow are eased.
The alliance, which includes both Saudi Arabia, Algeria, Iraq, Kuwait, the Emirates, Kazakhstan, and Oman, in addition to Russia, decided in its last meeting to suspend production increases during the first quarter of 2026, after increasing production by 137 thousand barrels per day for the month of December.
The price of Brent crude closed on Friday near $63 per barrel, down 15% this year.
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