OPEC Member Countries and Non-OPEC Crude Oil Producers (OPEC+) decided to reduce oil production by two million barrels per day, considering that the measure had “a positive impact on the market, as it allowed to counter the decline market prices”.
In a statement to the press on the latest production readjustment sent, this Wednesday, to Jornal de Angola Online by the Ministry of Mineral Resources, Oil and Gas, it is read that in a period of various uncertainties, OPEC+ actions aim to contribute to stability market by adjusting supply and demand. “During the validity of the Declaration of Cooperation, the mechanism that has been used by OPEC+ is the increase or reduction of crude oil production, with a view to mitigating the imbalances between these two factors”, emphasizes the document.
