LONDON/DUBAI (Reuters) – OPEC+ decided on Sunday not to change its production target, as oil markets struggle to gauge the consequences of China’s slowing economy and the Russian oil price cap driven by the G7.
This decision by OPEC member countries and their allies, including Russia, was expected.
OPEC + had provoked the anger of the United States and other Western countries in October by deciding to raise by two million barrels per day, or about 2% of world demand, its production target from November and until at the end of 2023, in order to support crude prices.
(Report by Maha el Dahan and Rowena Edwards, French version Tangi Salaün)
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