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G7 called on oil-producing countries to increase production
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G7 finance ministers and central bankers called on oil-producing countries to increase production and expressed their readiness to continue working with OPEC +, despite… PRIME, 10/12/2022
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G7 called on oil-producing countries to increase production
WASHINGTON, Oct 12 – PRIME G7 finance ministers and central bankers urged oil-producing countries to increase production and expressed their readiness to continue working with OPEC+ despite the cartel’s “disappointing decision” to cut production.
OPEC+ decides to cut production again
“We continue to encourage oil-producing countries to increase production to reduce energy market volatility. We will continue to engage with OPEC+ countries on this critical issue…despite their recent disappointing decision,” the statement said.
Last week, oil-producing countries in the OPEC+ alliance at the first face-to-face meeting since the start of the pandemic in 2020 in Vienna agreed to cut production by 2 million barrels per day from November, extending the deal until the end of 2023.
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