Alexey Belogoryev, Research and Development Director of the Institute for Energy and Finance, commented to RIA Novosti and the Prime news agency on the OPEC+’s current policy.
There is no point in OPEC+ changing oil production quotas now, it will focus on the methodology for calculating production capacity for 2027 until the end of the year, Alexey Belogoryev believes.
In September, the OPEC+ countries completed, albeit so far only on paper, the phase‑out of voluntary production restrictions that had been in effect from 2023 to 2024, the expert recalled.
With an uncertain horizon for the end of the crisis in the Persian Gulf, the market is now only waiting from OPEC+ for confirmation of a stable maximum permitted production level, Belogoryev added.“Only the overall quotas remain, but there’s no point in touching them until the reassessment of the baseline production level in each country is completed. This is precisely what the OPEC+ countries will be focused on until the end of the year — the internal methodology for how the agreement functions,” he told RIA Novosti.
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