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What is OPEC's current stance on increasing oil supply despite market speculation?

OPEC remains committed to its plan to increase oil supply starting from April, despite market speculation about a possible delay in this strategy. Russian Deputy Prime Minister Alexander Novak has explicitly dismissed reports suggesting any reconsideration of the planned supply increase. Market insiders appear confident that the global oil market has sufficient capacity to absorb the additional supply without significant disruption. This stance indicates OPEC's assessment that current market conditions can accommodate the increased production levels while maintaining relative stability in global energy markets.

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02:06

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OPEC's Oil Supply Plans Amid Speculation

WION·8 months ago

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