MOSCOW, January 4. /TASS/. Most of the OPEC+ countries believe that crude output should not be increased by another 0.5 million barrels per day in February, a source involved in the talks told TASS on Monday.
"The majority are for an extension," he said answering a question from TASS, but added that Russia had a different position.
The OPEC and non-OPEC Ministerial Meeting was scheduled for Monday to set oil production limits for February. At the previous meeting, held on December 3, they agreed to start gradually boosting oil production by not more than 500,000 barrels per day in January. The group agreed to convene monthly meetings to negotiate further growth. In total, OPEC and its allies plan to increase production by nearly two million barrels per day in the first months of 2021. In May 2020, when the renewed OPEC+ deal came into effect, the countries curbed oil output by 9.7 million barrels per day. Since August, the cuts were reduced to 7.7 million barrels per day.