The oil association Opec+ Oil Countries is apparently considering increasing production

Isn’t gasoline more expensive?

Oil-producing countries are apparently considering increasing production

Turnover in the powerful Opec+ oil network? According to the press release, the powerful members want to extract more oil, contrary to the earlier announcement. If the production shortfall becomes less severe, this may ease the situation in the markets.

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Will Gasoline Prices Soon Be Falling Instead of Rising?

All eyes are on Opec+. The group of oil-producing countries OPEC, which has expanded to include 10 countries, announced in October that it would cut daily production by two million barrels. The decision was criticized by the US government as “short-sighted” and a “mistake”.

It should be effective as early as December, according to the powerful oil group and Russia. “It remains to be seen how much daily production will actually decrease,” say Commerzbank commodity experts.

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