OPEC+ holds meeting today

A meeting of the Organisation of Exporting Countries of (OPEC) and its allies, known as OPEC+, take place on Thursday (1), to decide which policy will be applied in oil production from august. The organization, which was optimistic about the recovery of the market, is preparing for even greater growth in the industry and believes it will hit the best performance target since 2009, when the oil has had great results. As stated last Tuesday (29) OPEC Secretary-General Mohammad Barkindo during a meeting of experts known as the Joint Technical Committee, the expectation is that demand in 2021 grew by 6 million bpd, of which 5 million during the second semester.

The request for the product grew significantly, and their shares have not been as high since 2018, when they had their highest level. Last Thursday (30), the National Agency of Petroleum, Natural Gas biofuels (ANP), reported that production in Brazil grew 5.7% in the year past. In addition to the growth in production, exports increased annually 16.9%, achieving the highest result of the historical series. High demand generates extremely positive impacts for oil companies, shareholders and Investors. Analysts see the oil phase as a moment beneficial to investors, as its growth jumped about 8,000% in the last five years.

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