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Oil: OPEC should continue to raise its production

01/12/2021
Categories: Raw materials

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The director of the International Energy Agency (IEA), Fatih Birol, said on Tuesday that he hoped to see oil and gas producers, and in this case members of OPEC, continue to raise their production to preserve the recovery of the world economy. They are to meet this week.

“OPEC countries are meeting in a few days. I would be happy to see that they continue with their current policies, that they continue to increase their production, because the health of the world economies is important for all of us, "said the economist to the press, on the sidelines. a conference at the French Ministry of Ecological Transition. For him, high oil prices at this time would be detrimental to the global recovery. So I think oil and gas producers have a role to play in calming energy markets and helping to reduce volatility. It should be noted that the price of oil rose to over $85 a barrel, before falling back more recently, particularly in the face of fears that the new Omicron variant is weighing on demand.

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