VIENNA, 4 Dec – Novosti. OPEC+ confirms its readiness to meet at any time to take additional measures to stabilize the market, the alliance said in an official communiqué following the meeting on Sunday.
“Taking a proactive and preventive approach, the participating countries reaffirmed their readiness to meet at any time and take immediate additional measures to respond to market changes and maintain the balance of the oil market and its stability, if necessary,” the message says.
The Alliance at a meeting on Sunday decided to keep the current parameters of the deal, confirming its October decision.
OPEC+ cut oil production by 9.7 million barrels per day in May 2020 due to a drop in oil demand caused by the pandemic. Since August of this year, the alliance has moved to the final stage of exiting these cuts, but since November it has again cut production – by 2 million barrels per day from the level that was the maximum possible for August.