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OPEC+ decision to increase oil output not to affect oil prices — Accounts Chamber chief

June 25, 15:46 UTC+3 MOSCOW

The ministers of OPEC+ countries at the June 23 meeting decided to increase oil production by about 1 mln barrels per day during the second half of the year

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© AP Photo/Gary Kazanjian

MOSCOW, June 25. /TASS/. The OPEC+ decision to increase oil production will not affect world oil prices, Chairman of the Accounts Chamber Alexei Kudrin told reporters on Monday.

"I think that there will be no big changes in the price policy, because the decision of OPEC+ was weighted - it will provide balance. Growth is mostly seen in the framework of a balanced policy and the previous price benchmarks," Kudrin said.

The ministers of OPEC+ countries at the June 23 meeting decided to increase oil production by about 1 mln barrels per day during the second half of the year and did not rule out that the indicator could be revised in September. Thus, participants of the deal will practically return to the initial parameters - a decrease in production by 1.8 mln barrels per day, as in recent months production has dropped by almost 3 mln barrels per day (in May the deal was executed by 150%).

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