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New output volumes from OPEC+ countries will be demanded by market — Gazprom Neft

Alexander Dyukov noted that global oil consumption rose in summer

TYUMEN, September 18. /TASS/. Gazprom Neft believes that new oil production volumes from OPEC+ countries will be in demand by the market as several countries are currently replenishing reserves, Chief Executive Officer Alexander Dyukov said.

"Global oil consumption rises in the summer. Fundamentally, in Asia, consumption continues to rise in the fall. Moreover, we see a number of countries, including China, replenishing their strategic oil reserves now. Therefore, oil is in demand," he told reporters on the sidelines of the TNF-2025 forum commenting on the latest decision by OPEC+ to boost output.

"Well, it's impossible to predict what will happen next. But we know that OPEC+ is capable of responding fairly quickly, both increasing and reducing quotas," the chief executive added.

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