OPEC+ changes production limit

In a virtual meeting last Sunday (18), OPEC+ (Organization of Petroleum Exporting Countries and allies), with the aim of zeroing the restrictions imposed last year (2020), decided to change its production limit. It was decided that oil generation will increase to 400,000 bpd (barrels per day).

The announcement was made after turbulence in negotiations between members of the group, such as the United Arab Emirates (UAE). UAE Energy Minister Suhail bin Mohammed al-Mazroui, although not clarifying how they reached the agreement, said he was pleased with the decision.

After the downturn period when in 2020, the policies implemented with the aim of curbing the rate of contagion of covid, caused the demand for fuel to decrease, the current expectation for the sector is growth, especially with the increase in the vaccination campaign, which reflects on the economic recovery.

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