The OPEC+ group decided on Tuesday to add another 400,000 barrels per day to its total oil production in February in a widely expected move to continue easing the cuts each month. At the end of a very short ministerial meeting, the OPEC+ alliance did not deviate from its current plan to ease the production cuts by 400,000 bpd each month until it unwinds all the supply curbs.
The move was widely expected by the market, and oil prices were up by around 1% just after news of the decision broke. Before the meeting started today, Saudi Arabia’s…OPEC+ Sticks To Plan To Add 400,000 Bpd Oil Production In February
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